Despite many warnings, 2024 has been a very good year for the stock market so far. But what about 2025? There is no shortage of crises. So could the coming year for the stock market be the direct opposite of 2024 or will opportunities prevail again? In his market commentary, Robert Halver, Head of Capital Market Analysis, analyzes the risks and opportunities for 2025. I am pleased to present his assessment here at René wants yield again. ???? Become a channel member and receive exclusive benefits: / @renewillrendite ???? Analyses and assessments of the stock market situation once a week - order my newsletter here https://www.focus.de/188308073?UTM=yo... Important points: 00:00 The risks for 2025 02:20 The opportunities for 2025 03:10 No good prospects for interest-bearing securities 03:36 Falling interest rates will help the economy 04:52 Opportunities for second-tier stocks 05:40 The geopolitical crises should ease 06:22 A setback on the stock market threatens at the beginning of 2025 07:17 Taking advantage of market fluctuations with savings plans There are enough crises in the world: Trump is swinging the tariff hammer particularly hard against the BRICS+ states if they dare to develop alternatives to the world's leading currency, the US dollar. This would certainly not help global economic growth. And the geopolitical structure (including Ukraine, the Middle East) is not a source of pure joy for the stock market. And Europe? It is not prepared at any level to face a Trump 2.0 in power. Europe's No. 1 and No. 2, France and Germany, currently have no governments capable of taking action. And fundamentally, the European leading indicators paint a terrible picture. In Germany, fears about jobs are spreading again. All of this is not the stuff that stock market dreams are made of. Given such a poor background, the question arises as to why anyone should still invest in stocks? Isn't saving in a fixed-term deposit account with less risk a better investment alternative? But the counterarguments must also be considered. For example, the ECB will cut interest rates even further in 2025 due to the difficult European economic situation, which will mean lower investment interest rates. The Fed will do this with less gusto. Nevertheless, the interest rate cut fantasy remains. In view of the excessive debt, neither the ECB nor the Fed are in a position to practice pure stability theory. In order to improve debt management, monetary policy is pointing the finger at interest rates and bond yields that are rising too sharply. Inflation is thus given more room to maneuver. In fact, anyone who trusts official inflation measurements - especially in America - probably believes in Santa Claus. After price increases, there is not much left for investors. In many cases, they pay for it. On the other hand, inflation that is no longer consistently combated benefits real capitalist stocks. Overall, interest-bearing securities have a weaker hand than stocks. They should therefore serve as a liquidity reserve, but should not represent a concentration risk. Even if dividends are partially reduced next year, they are a great alternative as a current income. But the start of the new stock market year could be bumpy: At the beginning of 2025 - after the large capital collection points have carried out window dressing until the end of 2024 - a dry period and fluctuations on the stock exchanges are to be expected. One thing we will have to wait and see is how Trumponomics is implemented and what interest rate policy does. However, as the positive themes mentioned above become increasingly apparent over the course of the year, this period should be used for purchases. From today's perspective, 2025 will probably not be the best year for stocks, but it will be a solid one.