The week 20.04.-24.04.2020

The week 20.04.-24.04.2020

A historic week lies behind us. For the first time, a negative oil price could be observed on the futures markets. A unique phenomenon for a commodity on which the world is so dependent. This should mark the low point of a negative oil price development.
While the discussion of whether, when and to what extent the return to “new” normality in politics and society has flared up. Market participants are concerned about how hard the freezing of economic life caused by the shutdown will hit us. The assumption is that we will have a hard landing in an L-shaped recession, which on average would last longer than those of previous times. Some draw parallels with the 1970s, others go even further and invoke the spirits of the 1930s.
This discussion seems pointless, as we have just finished another positive week, the seventh in a row, with a 1.30% increase. In comparison, the S&P500 index lost 0.31%.