Everything duty paid? The financial markets between justified optimism and dangerous recklessness

The year 2025 will be dominated by Donald Trump and his sometimes very erratic policies. Only one party has so far remained largely unimpressed by the numerous uncertainties, and that is the financial market. Is this justified optimism based on solid fundamental data? Or are the markets taking the risks that do exist too lightly?

We take a look at the economy, interest rates and stock markets and analyze what the Trump trade has meant so far.