In 2025, we have seen a large change in the best of the market. The USA index, which brought up 23.4 %in Loscow for a year, has only made 1.22 %this year. On the other hand, European indexes after losse of more proficiency this year were picked up with strong relative trains. For example, the France MSci Index, who has owned a strong inconvenience last year, has come up with a double -capacity profit. So what about standing for TMTO? In my opinion, exist the main factors that led to the better of the European action:
OEKV is that Mnov policy in eurozn will be released in the future by not Mnov policy in the US.
As the Citi Economic Surprise indices show, in the euro -resistance, the positive economic economic, and in the US, to the negative economic, surprise.
Momentum Rstu profit in eurozn, akoli is alarm, improves, while the momentum of the rust is not improving.
They are appreciated in the euro area relative NZK, but in the US very high essential to the perfection or blzko perfection.
Nmecko plnuji vrazn zven in the bread A infrastructure
To these factories, these were used to have a noise, which means, inadvertently, to shift in both political and economic terms. Entering the Kancl Friedrich Merz said full on the rash on defense and infrastructure. This is a turn of 180 degrees for a country that has been linked in the last years to maintain a fiscal caution at the economies of the economies. The bag does not pay it.Nov nmeck vvdn coalition fulfills the mandatory change of the upper boundary of the deficit. Akoli thus happens in response to the US policy, offering it economic in handy and to the klobov problems his economic. Nmeck processors have been in the last few years nachz in Hlum. In the Loscow year, I received a question from the skeptical client who asked if somewhere they renewed its hearing in the crate. The salamander of the bag was presented to how quickly the relations between the US and Europe will get and how fast it and the European country reacted to it. And it is not just a nmecko; The US departure from its long -term allies has positively influenced many European countries. This tden is that the leader of the European Union (EU) will lead to the Oncertainty to the Faculty of Fiscal, to decide on the abolition of fiscal limited to an equal EU with a rapid renewal of its military division. The European land act quickly and the markets are grown, that it is a shift in the most not? I think that Mr. Merz used the murderer and the standing that stood, and thus molded his internal Maria Draghi. Not surprisingly, TDen has passed the association of ten years of bond and 30 Basic Point What is the highest jump since 1990.
USA EXCEPTING THE SNIOVN WITH VOLDNCH
The US is in the meantime to reduce expenses by the Ministry of its Ministry for the Efficiency of the StTN Fresh (DOGE). Akoli is the market that the markets are bound on the tariffs, the presumption that the dramatic truncation of the voji get them for the US economy in the threat. Akoli the US is sure to sow expenses to dream fiscal deficit, think that only the neweshore presented that the muses will be so fast and aggressive. This is very problematic for the US economy, because in the way, the labor town and the dollar of the dollar are given to the whole economy. In the impact of the type of volatile, they get married. Dreaming who have a multiplier effect, for example, transfer payments with nzkmi pjmy will be on the economy vt negative impact not to be involved with them with a multiplikan effect. Uetil. In other words, at the same condition, it would have a domestic payments with some pjmmi could have an impact on the US economy, for example, for example, danous households with such pension. It is necessary to monitor where to the mole, and not, just that to the mole.
The lease of the recession in the USA ran out
It is therefore likely that in the event of a stock market in Europe and the US will be enhanced by the fiscal impulse. And this fiscal impulse substantially invited the probability of recession in the US this year.Indictor GDPNOW Atlantic Fed shows a alarming decline of the staff. The Challenger, Gray & ChristMas has passed TDen that the leadership of the US clinus has been invited by 245 % to 172,017, which is the highest since July 2020, when America was limited by Covid-19.4a. TDEN missed: The contacts showed the uncertainty about insight, Iroce came to the attitude of the bloom. As the opponents for pub activity, the dreams of work forces were presented as a result of policy immigrants, out of the way, as a result of the whole and dreaming expenses. Concerns about the impact of the rareness of trade policy.Nkter contacts in this elimination thus came to the nervousness of the impact of potential cells on the prices of deva and other materials. A few contacts ran with the hostenshusts of the uncertainty about how the policy of federln vldy policies could affect the economy. The lubrication and group trips dreamed, one of the contact of the hospitality in other California Vldy.Will this trend continue?Pestoe is likely to be in a rash recession, we have not enough information so that we can or whether the US economy gets into the recession, not. It will be bad to the extent of the future of the museums. The recession of non -finished VCs for this I think that the gluten of European stock market compared to American AKCIM will probably continue in the year of the year. It is assumed that in the future, it will be a variety of fiscal impulse for the economies of the Pslunky market. We'll watch it.What will be DT DL?Sousen financing US VLDY KON 14. BOST and BT must be prolonged by politically inconsistent American Congress, which could stand up to the rest of the fleet and of course to the mole of uncertainty and volatilit. Thus, we will observe the efforts of the European trainees for deficit from the outside of the castle from outside the defense. Let us know the American index of consumption prices, even if you dare say that inflation became a secondary problem at this moment due to the science of Straen Rstem in the US.