EU credit Rating improved

The rating Agency Standard & Poor's (S&P) raised the Outlook for the "AA"Rating of the EU from "stable" to "positive". Thus, the credit could rise to stars soon. S&P awards for the community of States rated "AAA", would these have for the first Time in 2013 again a uniform top rating by all three major rating agencies. And, even though the debt increased in the EU because of the different Coronavirus-aid packages solid. the According to S&P, the agreement on the reconstruction Fund is an important step to a sustainable strengthening of the political role of Brussels and the cohesion in the EU. The improved rating Outlook will make it easier for the community to place in the future, considerably more bonds on favorable terms. With an increase in the Ratings for the EU, the competition among the borrowers would increase with a peak rating though. This is not likely to jeopardize the role of the Federal government bonds to investors as a "safe haven", in my opinion, but seriously.

ECB saves ammunition

in view of the slowdown in the Market, the ECB has cut its monetary policy Stimulus last something. The purchases in the context of the Public Sector Purchase programmes (PSPP) fell in July from 38.8 to 21.6 billion euros, those in the context of the Pandemic Emergency Purchase programs (PEPP) from 120.3 to € 85.4 billion. The purchases were based more than before on the capital key, so the distribution to individual countries according to their ECB involvement. the Only Italy deviates more than one percentage point to the top – it's no wonder that the yield touched a ten-year government bonds yesterday again to their previous low for the year at 0,903 percent. For against the wind, but could worry new Worry to the Coronavirus or the expectation of rising issuance of new debt securities by Euro area countries and by the EU for the financing of the reconstruction Fund. With 20 billion Euro on a monthly basis, as well as residual amounts of 32 or 910 billion euros for further PSPP and PEPP purchases, I see the ECB for this purpose, but well equipped.

High-risk gambling

The announcement of the loosening of the travel restrictions for the Chinese gambling metropolis of Macau yesterday at the local Casino operators to exchange rate gains in the amount of almost seven per cent in the Euro. The Chinese gambling Paradise was recorded in front of the Coronavirus-crisis-five times the revenue as Las Vegas. In the course of the pandemic, the revenue, however, fell by more than 90 percent. the Without a vaccine could be the recovery of the gambling industry despite the Entry of relief as time-consuming, and analysts expect that the gross gambling revenues will total up to the end of the year, only 60 percent of pre-crisis levels. With a full recovery is not expected until the second half of the year 2021. There are signs of a new wave of Infection, would put the share prices of Casino operators expected to be under pressure again. I therefore advise caution.

the "digital dollars" Comes from?

The first crypto currency, Bitcoin was designed as a state-independent, decentralized means of payment and with a market value of 215 billion US dollars currently for about 60 percent of the digital currency market. However, crypto back currencies, is increasingly the focus of governments around the world. On the hearing of the US Senate, entitled "US-China: Winning the economic competition" was last discussed, the introduction of a digital US Dollar, with China's advances in the field to keep up. the Because after five years of development, China has plans already in testing phases for its national crypto-currency. The view that could establish digital currencies as a means of payment, strengthened the exchange rate of the Bitcoin. Ulrich Stephan; DeuBa

in the Meantime, the Bitcoin price since its year low in mid-March is already over 150 percent in the Plus. Even with a proliferation of state crypto-currencies, Bitcoin is likely to remain a niche product, an investment, I think, is still highly speculative.

How it will go in the US stock market over the long term

could have, Since 2010, the U.S. share increased significantly, – but how will they evolve in the next ten years? Even if a precise prediction is not possible: Several factors point to a continued positive value development.

For the analysis of market and opinion

the number of the day: 4+

In the colorful world of the indices of the "Schmidt Sting Pain Index is likely to be of apparitions," one of the most curious. Justin O. Schmidt, entomologist at the University of Arizona, categorized so that insects after the pain that trigger your stitches. the The scale ranges from one for the smaller species of bees to four plus for the tropical giant ant. Jones estimates that he was stung during his work for at least a thousand times – which he had his nickname "The King of Sting" honestly earned.

Enter today, nothing on taunts.

Sincerely,

Ulrich Stephan

chief investment strategist for Private and corporate customers

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Ulrich Stephan; DeuBa

Date Of Update: 12 August 2020, 13:26