In 1996, the then-Federal Reserve Board chairman, Alan Greenspan, coined the phrase of “irrational exuberance” when he described the stock exchange bubble in the wake of the tech hype, a bubble which burst in March 2000.
How to interpret recent market moves? Is the shift towards European equities a new trend? DWS CIO Vincenzo Vedda explains what is driving recent developments.
2026 Outlook: Key Insights for Investors
Europe delivered the real surprises in 2025: stronger equity markets, rising real yields, and fiscal measures supporting growth. While US equities remained robust, German bond markets signaled improving economic momentum.