Inflation

Statistisches Amt Nord veröffentlicht Verbraucherpreisindex Hamburg; 120,3 Punkte im Juli 2025 M I 2 - m 07/26 HH Hamburg Juli 2026 Herausgegeben am: 10. August 2026 STATISTISCHE BERICHTE Kennziffer: M I 2 - m 7/26 HH Verbraucherpreisindex Herausgegeben von: Telefon: E-Mail: E-Mail: Auskünfte: Internet: www.statistik-nord.de Auszugsweise Vervielfältigung und Verbreitung mit Quellenangabe gestattet. 0 weniger als die Hälfte von 1 in der letzten besetzten Stelle, jedoch mehr als nichts – nichts vorhanden (genau Null) ··· Angabe fällt später an · Zahlenwert unbekannt oder geheim zu halten × Tabellenfach gesperrt, weil Aussage nicht sinnvoll p vorläufiges Ergebnis r berichtigtes Ergebnis s geschätztes Ergebnis a. n. g. anderweitig nicht genannt u. dgl. und dergleichen ( ) Zahlenwert mit eingeschränkter Aussagefähigkeit / Zahlenwert nicht sicher genug Lübeckertordamm 1 – 3 Impressum Statistische Berichte Statistisches Amt für Hamburg und Schleswig-Holstein – Anstalt des öffentlichen Rechts – Zeichenerklärung: 20099 Hamburg Auskunft zu dieser Veröffentlichung: Tim Rohwer 0431 6895-9178 preise@statistik-nord.de Auskunftsdienst: info@statistik-nord.de 040 42831-1766 © Statistisches Amt für Hamburg und Schleswig-Holstein, Hamburg 2026 Sofern in den Produkten auf das Vorhandensein von Copyrightrechten Dritter hingewiesen wird, sind die in deren Produkten ausgewiesenen Copyrightbestimmungen zu wahren. Alle übrigen Rechte bleiben vorbehalten. Statistikamt Nord 2 Statistischer Bericht M I 2 - m 07/26 HH ...

Global equities reach record levels worldwide; bond yields near multi-decade highs. Views at a glance – August 2026 Views at a glance – August 2026 Strong earnings and growing demand for AI continue to support equity markets, although rising bond yields could become a headwind. Equities resilient as bond yields rise Global equities have reached mid-summer at record levels. The fundamental backdrop remains supportive, with resilient economic growth, strong corporate earnings and further evidence of growing demand for AI services. The picture in bond markets is more challenging and could yet become a headwind for equities. Yields on long-dated bonds are close to their highest levels in decades, even after a slight retreat in recent days. Continued concern around energy-driven inflation is one factor behind the move, but not the only one. Heavy debt issuance by the largest technology companies is putting pressure on corporate bond markets and may be increasing competition for investors’ capital. There is also more uncertainty about the outlook for monetary policy, as markets adjust to new leadership and a new communication strategy at the Federal Reserve. ...

Caspar Rock and Katarina Cohrs discuss market update and economic outlook July 2026 in global markets; AI investment supports resilient earnings Webinar: Market update and economic outlook – July 2026 Webinar: Market update and economic outlook – July 2026 In our latest client webinar, Caspar Rock and Katarina Cohrs explore the key forces driving markets, from the AI investment boom and corporate earnings growth to the impact of geopolitical uncertainty and inflation risks. ...

Finanzministerium treibt Einkommensteuerreform in Berlin vor; Rund 10 Mrd Euro jährlich ab 2028 Entwurf: Steuerreform ohne Progressionsausgleich geplant - RADIO RST Berlin (dpa) - Das Finanzministerium treibt die von Union und SPD vereinbarte Reform der Einkommensteuer voran. Wie aus einem ersten Entwurf für die regierungsinterne Abstimmung hervorgeht, soll bis 2028 unter anderem der Grundfreibetrag steigen - der Betrag, ab dem Einkommen überhaupt versteuert werden muss. Zuerst berichteten darüber die «Bild» und die «Zeit». Außerdem soll der Spitzensteuersatz erst bei höheren Einkommen greifen. Im Gegenzug will die Bundesregierung bei der sogenannten Reichensteuer mehr einnehmen. ...

Australian credit market Kangaroo AT1 bonds Australia; 6x oversubscribed CDC Data Centres debut SAHYCF Commentary: Hopping along The market shrugged off a myriad of headlines to see higher beta bonds compress significantly, with Kangaroo AT1 paper leading the way in July. A seasonally slower pace of issuance and less available stock of higher yielding opportunities saw a grab for wider trading bonds. Last month we wrote about markets moving between acute concern and complete indifference to geopolitical headlines. July proved to be more of the same as the re-escalation of the US-Iran conflict brought oil prices back into focus after we started with Brent Crude Oil near pre-war lows. While prices did not reach the ~US$120 ...

Global equities edged marginally higher in July; Energy led on oil prices amid Iran conflict. Monthly markets review - July 2026 Monthly markets review - July 2026 A review of markets in July when commodities gained amid higher oil prices and value stocks performed well. Global equities, as measured by the MSCI World index, edged marginally higher in July. The month was marked by a rotation away from some high growth parts of the market that have previously performed well, and towards some lower valued sectors. Global bond markets were largely driven by expectations for higher inflation. Commodities gained amid higher oil prices as the Iran conflict escalated. ...

Berliner Clubs ringen mit sinkendem Getränkeverkauf und steigenden Kosten in Berlin; Ticketverkauf macht 59% des Umsatzes Berliner Clubs haben Probleme, da der Getränkeverkauf zurückgeht und die Kosten steigen – Dein Niedersachsen von Otto Hofmann 7. August 2026 Berliner Clubs haben Probleme, da der Getränkeverkauf zurückgeht und die Kosten steigen Berlins weltberühmte Clubszene ist nach wie vor sehr gefragt, doch die Veranstaltungsorte haben zunehmend Schwierigkeiten, aus überfüllten Tanzflächen nachhaltige Geschäfte zu machen. ...

Neue Studie auf Basis des Deutschen Alterssurveys zeigt wachsende Belastungen bei Menschen ab 40 in Deutschland; Depressive Symptome stiegen 2024 stark an Wenn gesellschaftliche Krisen zur Dauerbelastung werden - Allianz Sichere Sächsische Kommunen (ASSKomm) - sachsen.de Wenn gesellschaftliche Krisen zur Dauerbelastung werden Neue Studie zeigt wachsende psychische Belastungen bei Menschen in der zweiten Lebenshälfte. Menschen im mittleren und höheren Erwachsenenalter in Deutschland sind gegenüber gesellschaftlichen Krisen nicht dauerhaft widerstandsfähig. Eine neue Studie auf Basis des Deutschen Alterssurveys zeigt: Während frühere Krisen nur vorübergehende oder geringe Spuren im psychosozialen Wohlbefinden hinterließen, haben sich zentrale Wohlbefindensindikatoren seit 2021 deutlich verschlechtert. ...

Goldman Sachs Research says Fed to hold rates in the United States through 2026; Inflation softer supports longer hold through 2026 The Outlook for the Fed The key insights today: ▪Bond markets interpreted Wednesday’s Fed meeting as dovish, but Goldman Sachs Research expects the central bank to keep rates steady throughout 2026. ▪Goldman Sachs Research suggests five ways to protect portfolios amid an investment boom and rising inflation volatility. ▪Demand for critical minerals and rare earths is driving M&A and capital raising activity. ▪Robust corporate earnings and signs of a resilient US economy suggest the US stock rally could have room to run, according to Goldman Sachs Wealth Management’s Investment Strategy Group. ▪Briefings Brainteaser: What percentage of capital spending by the biggest US tech companies is expected to be funded by debt this year? Want to sign up and stay connected? Click here. Why Goldman Sachs Research Expects the Fed to Remain on Hold in 2026 Ahead of this week’s Federal Open Market Committee (FOMC) meeting, markets were signaling the most uncertainty in three decades about whether policymakers would hike, according to David Mericle, chief US economist in Goldman Sachs Research. In the end, the meeting was “somewhat anticlimactic,” Mericle writes in a report. The FOMC held rates steady but issued no guidance on the future direction of rates and no details on the committee’s interpretation of the impact of inflation. “We had expected that most FOMC voters would not want to hike because the June inflation data showed substantial improvement relative to prior months,” Mericle writes. Kevin Warsh, who became chairman of the Federal Reserve in May, made several comments in his press conference after the FOMC meeting that Goldman Sachs Research interpreted as dovish, Mericle writes. Warsh appeared to downplay artificial intelligence-related price pressures and seemed to suggest that they are isolated from broader pricing trends. Asked if the rise in real, inflation-adjusted interest rates was a signal that the market thought the Fed should hike, he connected it instead to the recent strength of the economy. Warsh also hinted that the rise in market interest rates could substitute for a rate hike, though without saying so explicitly. Finally, asked if the Fed needed to raise interest rates to lower inflation, he suggested that more credibly committing to the inflation target could help to lower inflation by bringing down inflation expectations. “This contrasts with our reading of the evidence from economic research, which suggests that it is difficult for the Fed to influence inflation through the expectations channel” because most businesses and consumers are less attuned to central banks, Mericle writes. ...

US small-cap stocks outperformed large-cap stocks in US market; largest outperformance vs large caps since 2003 Three Not AI Investing Themes The key insights today: ▪As AI infrastructure stocks gyrate, Goldman Sachs Research highlights three investment themes outside of the emerging technology. ▪Investors are rotating from US large-cap stocks toward their small-cap counterparts, setting up a potential multi-year rally for US small caps, according to Goldman Sachs Asset & Wealth Management. ▪Quoted: why US inflation could cool ▪Despite macroeconomic uncertainties, M&A activity rose 48% in the first half of 2026, and Goldman Sachs Global Banking & Markets believes there’s more room to run. ▪Briefings Brainteaser: Which of these G10 currencies has strengthened against the British pound this year? Want to sign up and stay connected? Click here. Three Stock Themes Unrelated to AI A jump in the volatility of stocks related to artificial intelligence (AI) infrastructure has triggered renewed interest in investment themes outside of the technology. “While many fund managers have maintained a bullish fundamental view on the AI infrastructure complex, recent volatility has made it challenging to maintain that view in portfolios,” Ben Snider, chief US equity strategist, writes in a report. “Our conversations with investors have also focused on the challenge of finding investment opportunities not tied to AI, with many sectors trading with a strong positive or negative correlation to AI and momentum in recent months,” Snider writes. Goldman Sachs Research highlights three investment themes that are unrelated to AI and have minimal correlation to those stocks: Consumer-experience stocks offer exposure to strong, sustained secular growth in consumer spending on experiences. These equities trade at undemanding valuations and have limited risk from AI disruption. Stocks that Goldman Sachs Research describes as “compounders” have strong earnings growth, returns on capital, balance sheets, and free cash flow conversion but have recently lagged behind. They now trade at a historically large valuation discount. M&A candidates, identified by equity analysts in Goldman Sachs Research, are stocks that do not appear to have priced in the ongoing surge in M&A activity. A group of potential M&A candidates identified by Goldman Sachs Research equity analysts has outperformed sharply in recent weeks. Read the full article or find more of our insights on financial markets. Why the Outperformance of US Small-Cap Stocks Could Be Here to Stay US small-cap stocks finished the first half of 2026 with their biggest outperformance relative to US large caps since 2003. The gains may be the start of a multi-year rally, according to Greg Tuorto of Goldman Sachs Asset & Wealth Management. ...