• Uncertainties about the fiscal policy stance in Italy and the automobile industry in Germany are depressing the sentiment, although this is not reflected in the German economic data.

• By international standards, the US economy remains strong. The assessment of the situation rises to an all-time high and raises investors' expectations of rising inflation rates and a restrictive central bank policy. Japan is at-tracting attention with a clear rise in the situation and expectations.

The economic development in the individual regions of the world continues to be uneven. Overall, however, the current assessments of the approximately 1,000 investors surveyed by sentix remain relatively relaxed. This is due not insignificantly to the very good assessment of the US economy, where we are once again measuring an all-time high in the current situation index. This is increasingly causing inflation fears among investors, which in turn should prompt the central banks to continue their restrictive monetary policy. This also seems to be one of the reasons why the majority of expectation indices remain slightly negative.