Optimismus reigns on the capitals

The year 2010 started on the capital markets better than the year losk. Not that the crisis is over, your unemployment is far from over. For example, metal tracks have the best time in a row, but action should be taken.

The financial markets do not live in the present, but in several months the distant future. So today, people invest it according to the image, which, according to their name, will be available in summer and autumn. According to the fixed view, it will be a better image.

First years: bonds

The problem will be mainly government bonds. Yes, those who in the past were considered synonymous with security. Today, it is not true that I still have to pay, because when I do not have a pension, just borrow it. There is nowhere to drink. In debt vz and po ui vichni. Iceland started it. Czech continues, but does not.

The market is reacting to the bottomless shift of low-quality bonds with a fall in prices. Speculative purchase of a bond for several months is not a good idea. Unless the owner wants to wipe them to maturity, he would issue an unusually high yield, which will offer the bonds. To illustrate: a 5-year Czech bond now offers a yield and a maturity of 3.3 percent, and a 10-year yield of 4.7 percent.

Five years will belong to the action

The growth of the stock will not be nearly as sharp as at the end of 2009. The shares of many companies are overrated. With the exception of pesto, the dog will not be appreciated (even on the stock exchange) by 20 percent. Let’s name NWR for all of them – in its case, the appreciation of commodities should continue to reach about 25 percent, assuming continued commodity growth in world markets.

Such high growth is understandably associated with risks. One of them is, for example, in the case of prominent financial institutions, or even the state. The shares could then get to a lower value, not their lows last year.

Metal tracks behind the top

The year 2009 marked n for precious metals, which were traditionally considered preservers of value in times of crisis. After December, gold reached $ 1,220 per troy ounce. But investors tend to cling to gold as security. In this economic cycle, it is beyond its zenith. The price of gold should fall to 900 dolarm per ounce. And put the tracks of metals will follow.

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