UBS strategist Donovan does not believe in pessimism and is confident.

Frankfurt. After the world’s largest asset manager Blackrock, now also Credit Suisse: The investment committee of the major Swiss bank has decided to reduce its previously neutral equity position to “underweight”. Credit Suisse follows the Blackrock experts, who are underweight in the global allocation to equities for the first time in seven years.

This increases the number of negative forecasts for the economy and the capital markets. The reasons for this are the massive interest rate hikes by the central banks and the gloomy economic prospects. However, opinions differ on how far the central banks will raise their interest rates and whether the economy will actually collapse – and that is precisely what is crucial for the markets.