“We are in the middle of a correction”

Frankfurt The Hamburg private bank Berenberg is preparing for tougher times. After a record year in 2021, the personally liable partner Hendrik Riehmer expects business to be worse in the coming months. “2021 was an exceptional year for all investment banks that cannot be repeated,” warns the banker.

The reason for this skepticism is the turbulence on the global stock markets, which is mainly due to the fear of a sharp turnaround in interest rates triggered by the US Federal Reserve. “We’re in the middle of a correction,” says Riehmer. The capital market expert assumes that the violent price fluctuations will continue for “four to eight weeks”.