«A boost for the economy»

"Order books are full, inventories are low and consumers are willing to spend: that's a good mix to be confident for the new year," says Felix Brill in the video format "Our View - The Questions".

However, the CIO of VP Bank does not deny the short-term challenges posed by the pandemic and the disrupted international trade in goods.

"But I expect these issues will improve so that companies can fulfil their orders which is a boost for the economy."

Neither does he see inflation as a long-lasting threat. "We expect inflation to moderate". Many drivers of inflation such as oil prices have become weaker.

This confidence is underlined by the latest adjustment in the portfolio allocation. The equity quota is increased to overweight. Watch the video to find out which region we prefer and what sentiment indicators have to do with it.