FRANKFURT (dpa-AFX) – The fear of interest rates that arose after yesterday’s meeting of the US Federal Reserve will probably throw the Dax (DAX 40) back significantly towards 15,000 points on Thursday. The broker IG appraised the leading German index about two and a half hours before the Xetra start 2.4 percent lower to 15,088 points. Asia’s stock markets are also very weak in the morning.
Credit Suisse said the US Federal Reserve had sent strong signals that it would raise interest rates in March. The Swiss bank is also initially assuming that there will be a further step every quarter – up to and including 2023. The interest rate futures are currently pricing in more than four increases this year, according to the experts.
With a view to the price development on the US stock exchanges, however, they also found a reassuring argument for investors worried about higher interest rates. Here, the most important indices had made significant gains over the course of the day and some even turned negative. According to the Credit Suisse experts, the Nasdaq Composite, which is particularly interest-sensitive with its technology stocks, closed the year with hardly any changes. This may be a sign that the market has actually priced in the Fed rate appropriately./ag/stk