Wednesday May 25, 2022

Will the stalemate mean disaster for the markets?

A week passed on the stock markets was marked by great nervousness and uncertainty for investors, which was increasingly affected by years of rates and high oil prices, for which the Prague Stock Exchange paid the most. In addition, he gave them a letter of uncertainty due to the election results.

After free Monday, investors in the USA were pounding on the markets full of pessimism and sales did not take long to come. The unfavorable macro data, to which investors are very sensitive, contribute to the overall gloom associated with strong fears of rising interest rates and rising oil prices. On Wednesday, although the indices ended the day in positive values, the turmoil in the markets but also the decline in oil prices continued.

The harsh optimism on the markets was quite surprising in connection with the Fed’s comment, on the basis of which the effects of the rate hike increased. Nothing, however, persists and the expected expectations of the gym did not come even after the favorable data from the market. The market was not helped by the market or the first exchange of the New York Stock Exchange and the European stock exchange Euronext, the first stock exchange operating on both sides of the Atlantic was established. After a volatile course, the markets ended the week with a change in results (DJIA -0,3%, Nasdaq +0,4 %, S&P 500 +0,6 %).

Nervousness on the markets was also affected during the week in the development of European stock markets, which is thus threatened by rising interest rates, and thus to the Prague Stock Exchange. The last days of May were thus marked by sales, enhanced by the pre-election atmosphere. The biggest losses were suffered by the shares of Unipetrol, the Czech Telecom and EZ, which did not recover from their sharp losses even in the last two days even after the mood had improved. Overall you are BCPP for May wrote a loss of 10%.

The fourth and fifth business meant the return of buyers to the market, which benefited as much as possible from the banking titles, which, together with the sharply strengthening Philips Morris, were the only titles with a weekly finger. Even the end of the last few days was not averted by the weekly decline of the main stock exchange index PX (-1.43%).

The stalemate in the weekend elections is not good for the stock market in the future. The early creation of a stable and strong government (especially after the scandalous performance of the current Prime Minister Paroubek) is very small and the possibility of creating a grand coalition, which would probably be a defeat of all, is so scant (although . It is bad only for investors, whether the political situation will be important for them, or the very results of companies as a determining factor influencing stock prices.

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The funds were a pleasant surprise

Given the results of the stock market, the performance of mutual funds is a bit surprising. After two weeks, the stock fund managed to return to profits after two weeks (after the losses from the pedals, the week sweats and mild nrst). In particular, it is trying to improve its reputation ISS Sporotrend (+ 1.93%), which benefited from the positive results of the Central and Eastern European stock markets (the PSE was this week the only loss exchange in the region). Equal fund AKRO novch economic (+1.67%) m after pedelch weeks to catch up.

On the contrary, the next week did not succeed in the fund J&T Opportunity CZK (-0.76%) and jet h was on it his colleague, gave the shift fund J&T Perspektiva (-0,83 %).

The money market funds again emerged from the battle between money and bond funds. Especially in the long run, conservative products are much better at it. The loss of almost 7% since the end of the year at the SOB bond fund will threaten to look threatening and will catch up with it for the fund’s managers.

At the present time, when the threat of rising interest rates (and the associated decline in bond prices) in the US and Europe is under the current, the first money market funds are the best way to address the issue of portfolio defensive. Ron fingers in the breath of percent did not differ much from term deposits in banks, high liquidity in the furnace only coincides the share of funds.

Both changes in the group of mutual funds have traditionally recorded the largest outflow of funds. Bond funds were mainly at the expense of the fund ISS Sporobond (-98.4 mil. K), on the side of monetary funds, the largest outflow of pensions was recorded IKS Penn trh (-70.3 mil.K).

Trading according to AFAM

Type of fund The best The worst
Nzev fond As a result Nzev fond As a result
Shares ISS Sporotrend 1,93% AIG abroad growth 0,03%
AKRO novch economic 1,67% PI GLoblnch znaek 0,20%
SOB Realitn Mix 1,45% IKS Svtovch index 0,44%
Bonds SOB bond. baldness 0,42% Pioneer-oblige -0,50%
ISS-S korp. dluhopisov 0,17% PI Sttnch bond -0,38%
AIG stredoeurpsky 0,11% ISS Bondinvest -0,34%
Funds fund ICS Fund Fund 0,95% IKS Euro Max -0,18%
ISS Global Stocks 0,81% IKS MAX 1 -0,18%
IKS MAX 5 0,63% ISS Opatrn Mix -0,08%
Pennho Market SOB Entries 0,03% Pioneer-Sporokonto 0,01%
IKS Penn trh 0,03% PI Penenho Market 0,01%
ISS Sporoinvest 0,02%
Smen IKS MAX 4 1,29% J&T Perspektiva -0,83%
UNDER stedoevropsk 0,86% J&T Opportunity -0,76%
SOB wealth 0,64% ICS Global Conservative -0,34%
is sales of mil. K ISS Sporotrend 260 ISS Sporobond -98,4
MAX 6 64,3 IKS Penn trh


IKS Balancovan 60,3 ISS Sporoinvest -33,5

Source: AFAM

With a record finger of a quarter of a billion, I boast a favorite this week, the ISS Sporotrend fund (+260.0 million K), thanks to him this week, the reigns of equities, statistics and the sale of the AFAM fund. Behind them were exchange funds, with a large contribution from the IKS Balancovan fund (+60.3 million CZK). The fund IKS MAX 6 (+ K6464 million) accounted for more than half of the same sales in the fund.

Hedge funds traditionally contribute the most to the statistics of certain sales of KBC / SOB funds. This week it doesn’t change, only the fingers are more painful. SOB of Short-Term Growth 2 (+78.2 million K), SOB Digital Reverse 1 (+63.4 million K) and SOB Svtov strom 10 (+21.9 million K). The MultiCash CZK money fund (-94.1 million CZK) was again presented with the most significant outflow of funds.

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According to the results of the elections, how will they be affected by the exchange of the Czech stock market? Drink them with your opinions and experiences.

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