{"id":3197,"date":"2025-12-31T19:00:00","date_gmt":"2025-12-31T18:00:00","guid":{"rendered":"https:\/\/mueckinvest.de\/?p=3197"},"modified":"2026-02-02T16:00:00","modified_gmt":"2026-02-02T15:00:00","slug":"annual-analysis-2025","status":"publish","type":"post","link":"https:\/\/mueckinvest.com\/en\/jahresanalyse-2025\/","title":{"rendered":"Annual analysis 2025"},"content":{"rendered":"<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>1. macroeconomic overview 2025<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">The year 2025 was characterised by a mixture of moderate economic recovery, stabilising inflation rates and an increasingly cautious monetary policy on the part of the major central banks.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Inflation &amp; monetary policy<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Inflation in the USA and Europe has continued to normalise.<\/li>\n\n\n\n<li>The ECB remained cautious, but reduced interest rates selectively.<\/li>\n\n\n\n<li>The US Federal Reserve signalled a longer phase of stable interest rates.<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Conclusion:<\/strong> 2025 was the first year since 2021 in which inflation dynamics were clearly under control.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Economic growth<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>USA: robust growth driven by technology and consumption<\/li>\n\n\n\n<li>Europe: moderate but stable<\/li>\n\n\n\n<li>Asia: continues to drive growth, especially India and Southeast Asia<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Conclusion:<\/strong> The global economy proved resilient despite geopolitical uncertainties.<\/p>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>2. stock markets 2025<\/strong><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>USA<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">The US market remained the global performance driver. Particularly strong:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Technology<\/li>\n\n\n\n<li>Artificial intelligence<\/li>\n\n\n\n<li>Semiconductors<\/li>\n\n\n\n<li>Cloud infrastructure<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">The NASDAQ 100 reached new all-time highs.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Europe<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Europe showed a solid but less dynamic development. Strong sectors:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Industry<\/li>\n\n\n\n<li>Energy<\/li>\n\n\n\n<li>Financials<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Asia-Pacific<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>India and South Korea with above-average growth<\/li>\n\n\n\n<li>China remains volatile, but stabilising<\/li>\n\n\n\n<li>Australia benefited from commodities and strong dividends<\/li>\n<\/ul>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>3. bonds &amp; interest rates<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Government bonds stabilised after the turbulent previous years<\/li>\n\n\n\n<li>Corporate bonds benefited from falling risk premiums<\/li>\n\n\n\n<li>Money market remained attractive, but less dominant than in 2023-2024<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Conclusion:<\/strong> 2025 was a transition year back to normal interest rate structures.<\/p>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>4. raw materials<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Gold reached new highs due to geopolitical tensions<\/li>\n\n\n\n<li>Oil remained volatile, but without extreme swings<\/li>\n\n\n\n<li>Industrial metals benefited from global demand<\/li>\n<\/ul>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>5 ETF Flows &amp; Trends 2025<\/strong><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Popular ETF themes<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>AI &amp; Technology<\/li>\n\n\n\n<li>Dividend strategies<\/li>\n\n\n\n<li>Covered call products<\/li>\n\n\n\n<li>Emerging markets<\/li>\n\n\n\n<li>Sustainable ETFs (slightly declining, but stable)<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Important developments<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Covered call ETFs became a mass product<\/li>\n\n\n\n<li>Dividend strategies experienced a comeback<\/li>\n\n\n\n<li>Global all-in-one ETFs continued to gain market share<\/li>\n<\/ul>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>6. deep dive highlights 2025<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">In the year 2025 <strong>8 themes deep dives<\/strong> published. Particularly relevant:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/mueckinvest.com\/en\/%f0%9f%92%b5-bonds-2\/\" title=\"\ud83d\udcb5 Bonds\">Bonds<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/mueckinvest.com\/en\/%f0%9f%aa%99-precious-metals-2\/\" title=\"\ud83e\ude99 Precious metals\">Precious metals<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/mueckinvest.com\/en\/etf\/\" title=\"\ud83d\udcca ETFs\">ETFs<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/mueckinvest.com\/en\/%f0%9f%92%8e-etcs\/\" title=\"\ud83d\udc8e ETCs\">ETCs<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/mueckinvest.com\/en\/%f0%9f%9b%a2%ef%b8%8f-raw-materials\/\" title=\"\ud83d\udee2\ufe0f Raw materials\">Raw materials<\/a><\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">This content forms the foundation for the coming years.<\/p>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>7. risk assessment 2025<\/strong><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Main driver<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Geopolitical tensions<\/li>\n\n\n\n<li>US election cycle<\/li>\n\n\n\n<li>Interest rate decisions by central banks<\/li>\n\n\n\n<li>China growth<\/li>\n\n\n\n<li>Energy prices<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>ETF-specific risks<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Issuer risk with swap ETFs<\/li>\n\n\n\n<li>Concentration risks in the NASDAQ 100<\/li>\n\n\n\n<li>Currency risks in global portfolios<\/li>\n<\/ul>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>8 Outlook 2026<\/strong><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Expected trends<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Continuation of the AI investment cycle<\/li>\n\n\n\n<li>Stabilisation of interest rates<\/li>\n\n\n\n<li>Return to long-term equity strategies<\/li>\n\n\n\n<li>Growth in India, Indonesia, Mexico<\/li>\n\n\n\n<li>Dividend strategies remain in demand<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>For investors, this means<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Global diversification remains crucial<\/li>\n\n\n\n<li>Technology remains a growth driver<\/li>\n\n\n\n<li>Dividends remain a stabilising factor<\/li>\n\n\n\n<li>Rebalancing is gaining in importance<\/li>\n<\/ul>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>9 MueckInvest - Development &amp; Outlook<\/strong><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>2025 completed:<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>~10 deep dives<\/li>\n\n\n\n<li>3 monthly reports<\/li>\n\n\n\n<li>4 languages<\/li>\n\n\n\n<li>Stable app basis<\/li>\n\n\n\n<li>Professional website<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>2026 planned:<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>4-5 deep dives per month<\/li>\n\n\n\n<li>Market analysis every month<\/li>\n\n\n\n<li>Quarterly rebalancing<\/li>\n\n\n\n<li>Issuer risk check<\/li>\n\n\n\n<li>iOS planning from October<\/li>\n\n\n\n<li>International SEO optimisation<\/li>\n<\/ul>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>10. summary<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">2025 was a year of stabilisation and transition. For MueckInvest, it was the year in which the foundations were laid:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Clear structure<\/li>\n\n\n\n<li>Stable contents<\/li>\n\n\n\n<li>Professional routine<\/li>\n\n\n\n<li>International orientation<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">2026 will be the year in which the library begins, <strong>to grow exponentially<\/strong>.<\/p>","protected":false},"excerpt":{"rendered":"<p>1. Makro\u00f6konomischer \u00dcberblick 2025 Das Jahr 2025 war gepr\u00e4gt von einer Mischung aus moderater wirtschaftlicher Erholung, stabilisierenden Inflationsraten und einer zunehmend vorsichtigen Geldpolitik der gro\u00dfen Zentralbanken. Inflation &amp; Geldpolitik Fazit: 2025 war das erste Jahr seit 2021, in dem die Inflationsdynamik klar unter Kontrolle war. Wirtschaftswachstum Fazit: Die globale Wirtschaft zeigte sich widerstandsf\u00e4hig, trotz geopolitischer [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"pmpro_default_level":"","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[119],"tags":[296,132,249],"class_list":["post-3197","post","type-post","status-publish","format-standard","hentry","category-jahresanalyse","tag-geldpolitik","tag-inflation","tag-zinsen","pmpro-has-access"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/mueckinvest.com\/en\/wp-json\/wp\/v2\/posts\/3197","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mueckinvest.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mueckinvest.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mueckinvest.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/mueckinvest.com\/en\/wp-json\/wp\/v2\/comments?post=3197"}],"version-history":[{"count":2,"href":"https:\/\/mueckinvest.com\/en\/wp-json\/wp\/v2\/posts\/3197\/revisions"}],"predecessor-version":[{"id":3524,"href":"https:\/\/mueckinvest.com\/en\/wp-json\/wp\/v2\/posts\/3197\/revisions\/3524"}],"wp:attachment":[{"href":"https:\/\/mueckinvest.com\/en\/wp-json\/wp\/v2\/media?parent=3197"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mueckinvest.com\/en\/wp-json\/wp\/v2\/categories?post=3197"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mueckinvest.com\/en\/wp-json\/wp\/v2\/tags?post=3197"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}