Strong start to the year – what now? Six lessons for 2023

Bull and Bear in front of the Frankfurt Stock Exchange

The price development of the Dax was calculated for the first time in 1988.

(Photo: Imago [M])

Dusseldorf Inflation is stubborn and interest rate expectations are rising again. Both actually put a strain on the stock exchanges, but the German stock market is unimpressed, observes Jörg Scherer from HSBC Germany. “In February, the Dax confirmed the upward trend with subsequent gains.” In January and February combined, the leading index gained 10.4 percent.

The Dax is currently at 15,578 points, close to its all-time high of 16,289 points. This means that the price development is better than the mood on the markets: after the best January ever and a sideways phase in February 2023, there are great expectations that a correction will soon take place.

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