Fund manager's comment/Peter Kysel
Macroeconomic conditions in the continental European markets remain positive, with the general feeling that the bottom has now been reached, or is near to trough, and the second half of the year should be more positive. However, the outlook for the German economy is pessimistic and widespread uncertainty still exists. It is also possible that the picture will change unless the European Central Bank significantly reverses its very tight monetary policy and starts cutting interest rates further in the eurozone markets. The two preconditions for a better investment environment are lower ...
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