Investors can look back on a very successful year on the stock market. The global stock markets recorded the strongest rise in ten years.

The stock markets were able to take the momentum from 2019 into the new year. Not only the US leading indices reached new all-time highs several times. 

No sooner had the mood on the financial markets improved with the conclusion of the "Phase 1 Agreement" between the US and China than it was again burdened by the spread of the new coronavirus now officially known as COVID-19.

We are experiencing an extraordinary time. The rapid spread of the novel coronavirus known as COVID-19 is leading to massive restrictions in daily life and has a significant impact on economic activities.

In Germany, the Federal Government and the prime ministers continue to give top priority to health in the fight against coronavirus.

At first sight, there is a large discrepancy between the development of stock markets, which have recovered significantly from their multi-year lows, and the latest economic data.

The low point of the economic downturn caused by the corona pandemic was most likely passed through in April.

 The prospects for a sustained economic recovery has continued to improve in recent weeks.

At first glance, there seems to be a large discrepancy between trends on the financial markets and the economic situation.