Allianz Research

Volle Kraft voraus:
Global Wealth Report 2025

Show me the money: Debunking a couple of myths about excess liquidity

The reflation trade that has engulfed capital markets is largely based on the idea that a lot of money has been, is and will be created in response to the Covid-19 pandemic.

The irony of Biden´s super stimulus: USD360bn for exporters around the world

The USD1.9tn stimulus in the US will lead to an additional rise in imports of goods and services of USD360bn over 2021-2022. 

Commodities: Higher demand, supply bottlenecks, but no speculation (yet)

With oil leading the recent surge, some commodities are at multi-year record highs, in line with anticipated pent-up demand. Since the lows of May 2020, corn, soybeans and copper are at seven to eight-year highs, while cotton is trading at a three-year high.