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The financial markets are still shaped by unrealistic pipe dreams – even though investments in shares have become noticeably less attractive. Investors should question some of these mirages critically.
Global capital markets are going through a complicated scenario that is still marked by significant risks of stagflation. This creates unclear trajectories in the real economy and inconsistencies in the markets. Significantly higher money market interest rates clearly reduce the relative attractiveness of equity investments. At the same time, unrealistic pipe dreams continue to circulate on the markets. Investors should question some of these mirages critically.