Strategists do not expect a new Dax record

Frankfurt Jerome Powell and Christine Lagarde have taken away the holiday cheer from investors. The announcements by the head of the US Federal Reserve (Fed) and the head of the European Central Bank (ECB) that interest rates will continue to rise next year and that interest rate cuts are not yet on the cards halted the recovery on the stock markets.

Even before the most recent meetings of the major central banks, strategists at banks and fund houses had expected interest rate hikes to continue in their forecasts for the year. That’s why many experts expect the stock markets to go down again in the new year before prices rise again.

“2023 should be a better year, but not an easier one,” says Bernd Mayer, chief investment strategist at private bank Berenberg. Mayer expects the Dax to reach 15,700 points by the end of next year. He is even a little more optimistic than other houses. An overview of the Dax forecasts from 20 banks and fund companies.