The first month of 2024 is over and the economic forecasts for the whole year are already coming in. Things don’t look so rosy for the EU, the forecast economic growth is less than 1%, the USA is doing better, its forecast is over 2.5% growth. Apparently the USA is able to recover better from the economic crisis triggered by the war in Ukraine and the Middle East crisis apparently does not have such a strong impact on the country of limited opportunities. Nevertheless, it is precisely the Americans who are trying to bring peace in both conflicts, although of course the air strikes in Yemen and Lebanon counteract these efforts, as does the continued supply of arms to Ukraine.

From an economic point of view, US companies show with the quarterly figures for 4/2023 that they are on a good foundation, which is also reflected in the market with rising prices.

Our investment strategy remains conservative, moderately speculative but with the opportunity to take advantage of short-term trends. The result from January is correct and positive.