Market & Supply Watch - May 2013

The EBV Analysis of the Market Situation

In the last couple of days, the Dow Jones reached an all time high and the German stock market (Dax) is close to its all time high. The Japanese stock market is outperforming further. In parallel, the interest rates are not increasing and most of the commodity prices are stable (oil) or decreased (f.e. gold/copper). Global market conditions have been improving in Q3 and Q4 CY12, while in the Euro zone, rates of contraction have eased. In Europe, GDP growth is expected to be very moderate in 2013, while recovery is expected towards mid-2013. Moderate growth is expected in 2014. Growth expectations are based on the assumption that no further set-backs will appear to the Euro zone’s debt crisis and fragile member states will carry through their reforms.

Source: Commerzbank AG - Economic Research