Personal / telephone consultation

Advisory price per minute based on Amend Finance Portfolio Performance YTD (year to date)

Global Markets Sunday News

Iran conflict and tariffs: a hot start to the summer

The financial markets recorded relatively limited fluctuations amid geopolitical tensions. There were numerous central bank meetings this week, but these did not trigger any major reactions. A wait-and-see attitude prevails, as Donald Trump will have to decide in the next two weeks whether the US will attack Iran.

Tops of the week

Entain +12.75%: Ladbrokes’ parent company has published solid figures and prospects for its joint venture BetMGM. These are thanks to the dynamic development of the iGaming and online sports betting divisions.

Stora Enso +15.94%: The Swedish-Finnish paper and packaging manufacturer is facing a strategic review of its forestry operations. A partial spin-off is on the cards. The move is intended to boost growth, reduce debt and enhance the value of forestry assets that set the company apart from its competitors.

Kering +3.73%: Luca de Meo, who successfully got Renault back on track after the pandemic, is now likely to try to repeat the same feat at the parent company of Gucci and Balenciaga. Although he has spent his entire career in the automotive industry, he specializes in brand realignment and marketing. He is also no stranger to luxury goods such as Swiss watches.

MTU Aero Engines +9.32%: The German defense company has revised its medium-term outlook upward. Following this announcement, several analysts revised their price targets.

Saab +6.98%: The defense company received an order from the Swedish Army for the delivery of Giraffe 4A radar systems worth SEK 1.4 billion.

AMD +10.4%: The US semiconductor manufacturer has unveiled its new MI350X chip. The graphics processor is intended to revive the company’s GPU division, which has lost some momentum in recent months.

Marvell Technology +9.41%: Bank of America published an optimistic assessment of the US network chip manufacturer after it paved the way for an expansion of its chip offering at its latest AI event. According to analysts, the market for data centers is expected to grow strongly until 2028, underpinning the company’s business outlook.

Warner Bros +4.89%: Creditors approved the debt reduction restructuring plan, an important step toward the strategic split of the media and entertainment group.

Flops of the week

Rémy Cointreau -11.12%: The spirits manufacturer is in serious trouble. Broker Alpha Value is pessimistic about the full-year results given the impact of tariffs and the generally difficult market environment. The cognac division, which generates almost 65% of total sales, is likely to be the hardest hit.

Colruyt -6.63%: The retailer is losing further market share in Belgium. Competition is very strong and demand is stagnating. Colruyt is no longer able to differentiate itself from its competitors, and the outlook for the new fiscal year is rather subdued.

Lennar -2.02%: The US homebuilder reported better-than-expected quarterly results. However, high interest rates are weighing on business, and management sees price cuts as the only lever to maintain volume.

Teleperformance -16.95%: The CRM service provider’s new strategy disappointed investors. They see a discrepancy between the business opportunities offered by AI, which the company points to, and its conservative medium-term targets. Teleperformance is no longer growing as strongly as in previous years.

Visa / Mastercard -5.17%: New US regulations on stablecoins could reduce the importance of traditional payment solutions for certain types of transactions. Trading platforms such as Coinbase, on the other hand, are benefiting from the new situation.

Commodities

Energy: Due to increasing hostilities between Tehran and Tel Aviv, the situation on the crude oil markets remained tense. As a result, oil prices rose, especially for Brent crude. Brent is more sensitive to international tensions than US WTI, which is more influenced by the dynamics of its domestic market. In other words, the spread between Brent and WTI tends to widen when geopolitical tensions increase. Although the market remains tense, there are no signs of an immediate disruption to global oil supplies. The US is giving itself two weeks to decide on possible military involvement, which could open the door to further diplomacy. International talks, particularly between Iran and European ministers, are paving the way for a possible peaceful resolution to the conflict. Meanwhile, oil continues to flow – including from Iran. At least in the short term, investors continue to consider the nightmare scenario of a closure of the Strait of Hormuz unlikely. And according to the latest reports from OPEC and the International Energy Agency, global oil supplies are still likely to be sufficient to meet current demand. Admittedly, any further escalation of the security situation in the Strait of Hormuz could quickly change this dynamic. The market continues to watch for signs of de-escalation – or indeed a deterioration in the situation.

Metals: Although it may seem illogical, gold lost ground this week despite geopolitical tensions. The precious metal fell for five days in a row and is now trading at around USD 3,350. The appreciation of the dollar and, above all, the US Federal Reserve’s policy, which dampened hopes of an interest rate cut, weighed on the gold price. Copper also declined in London. Disappointing data on real estate prices in China put pressure on the price. A ton of copper now costs USD 9,615 (spot price).

Agricultural products: In Chicago, corn prices stabilized at 445 cents per bushel, while wheat rose to 585 cents (contract expiring in September 2025). This purely technical movement is related to the entry into short positions. From a fundamental perspective, pressure from harvests in Europe and the Black Sea region could weigh on prices.

Macroeconomics

Market sentiment: It’s the weekend for central banks. After the ECB, it was the turn of the Fed, the SNB and the BoE. They faced the delicate task of venturing an economic outlook and a forecast for monetary policy. The British monetary authorities left interest rates unchanged, while the Swiss central bank cut its key rate to zero percent. This proves that low interest rates and a strong currency are perfectly compatible, provided that the other conditions are right: political and fiscal stability, a well-developed infrastructure, pricing power for exports, etc. In the US, the situation is not quite so simple for the Fed. It has to weigh up the risks of higher inflation, a (too) robust labor market and growing geopolitical uncertainties. We advise investors to exercise caution and wait and see, even though analysts still expect two interest rate cuts by the end of the year.

Cryptocurrencies

Bitcoin closed the third week in a row at around $105,000. Bitcoin spot ETFs continue to gain momentum with over $1 billion in net inflows since Monday. In general, the most important, i.e., highest-valued cryptocurrencies trended sideways this week. The latest news came from Coinbase: The platform is preparing a strategic realignment and plans to introduce trading in tokenized stocks available around the clock. To secure the legal basis for this plan, it has applied to the US Securities and Exchange Commission (SEC) for a waiver (“no-action letter”). What is the purpose of this step? Financial assets (stocks, bonds, funds) are to be natively digitized to simplify access and make acquisition more cost-effective. In addition, Coinbase and Gemini are likely to receive their MiCA license in Luxembourg and Malta. This would open up the entire European market to them. This is a balancing act for Europe: on the one hand, an attractive environment for US crypto giants needs to be created, while on the other hand, a high level of investor protection must be guaranteed in a market that is now worth a total of USD 3.2 trillion.

Outlook

Will Donald Trump remind the US’s “partners” in the first week of summer that no trade agreement has yet been signed? We expect the US president to make this point bluntly between two statements on Iran. Next week, the purchasing managers’ indices for the leading economies for June will be released on Monday, followed by the latest US consumer prices on Friday. In between, Fed Chairman Jerome Powell will answer questions before Congress on Tuesday and hold his semi-annual hearing on Wednesday. Looking ahead to the reporting season, several companies with different fiscal years will present their figures, including Prosus, Fedex, Micron, and Nike.

Bitcoin | Gold

The path to freedom

Dr. Udo Amend, a renowned expert in the fields of cryptography and finance, has been working intensively on these topics for decades. With his extensive knowledge and experience, he sheds light on the fascinating connections between Bitcoin and gold in his book “Bitcoin | Gold – The Path to Freedom”.

S&P 500 Heatmap

S&P 500 Development in 2025

US Bond Yield

2-years US Bond Yield

10-years US Bond Yield

Market Overview

USD

GOLD

SILVER

WTI

BRENT

BITCOIN

Correlation between the price of gold and the US dollar

Stock Search

Tops & Flops

27. June 2025 (EOD)

Europe

USA

Asia

Currencies

EUR - USD

JPY - USD

Crypto Currencies

Bitcoin - USD

Ethereum - USD

Raw Materials

Bitcoin | Gold

Dr. Udo Amend - Der Weg zur Freiheit

FED Balance Sheet

FED Watch

Latest News

Sie möchten unverbindlich Kontakt aufnehmen?

Bitte füllen Sie das Formular vollständig aus –
wir kontaktieren Sie zeitnah.
Kontaktinformation
Weitere Informationen

Impressum

Amend Finance

Vertreten durch:
Prof. Dr. Udo Amend

Verantwortlich für den Inhalt nach § 55 Abs. 2 RStV:
Prof. Dr. Udo Amend
Oberacher 1
CH-6315 Morgarten

E-Mail: ud******@*mx.de

Haftungsausschluss:

Haftung für Inhalte

Die Inhalte unserer Seiten wurden mit größter Sorgfalt erstellt. Für die Richtigkeit, Vollständigkeit und Aktualität der Inhalte können wir jedoch keine Gewähr übernehmen. Als Diensteanbieter sind wir gemäß § 7 Abs.1 DDG für eigene Inhalte auf diesen Seiten nach den allgemeinen Gesetzen verantwortlich. Nach §§ 8 bis 10 DDG sind wir als Diensteanbieter jedoch nicht verpflichtet, übermittelte oder gespeicherte fremde Informationen zu überwachen oder nach Umständen zu forschen, die auf eine rechtswidrige Tätigkeit hinweisen. Verpflichtungen zur Entfernung oder Sperrung der Nutzung von Informationen nach den allgemeinen Gesetzen bleiben hiervon unberührt. Eine diesbezügliche Haftung ist jedoch erst ab dem Zeitpunkt der Kenntnis einer konkreten Rechtsverletzung möglich. Bei Bekanntwerden von entsprechenden Rechtsverletzungen werden wir diese Inhalte umgehend entfernen.

Haftung für Links

Unser Angebot enthält Links zu externen Webseiten Dritter, auf deren Inhalte wir keinen Einfluss haben. Deshalb können wir für diese fremden Inhalte auch keine Gewähr übernehmen. Für die Inhalte der verlinkten Seiten ist stets der jeweilige Anbieter oder Betreiber der Seiten verantwortlich. Die verlinkten Seiten wurden zum Zeitpunkt der Verlinkung auf mögliche Rechtsverstöße überprüft. Rechtswidrige Inhalte waren zum Zeitpunkt der Verlinkung nicht erkennbar. Eine permanente inhaltliche Kontrolle der verlinkten Seiten ist jedoch ohne konkrete Anhaltspunkte einer Rechtsverletzung nicht zumutbar. Bei Bekanntwerden von Rechtsverletzungen werden wir derartige Links umgehend entfernen.

Urheberrecht

Die durch die Seitenbetreiber erstellten Inhalte und Werke auf diesen Seiten unterliegen dem deutschen Urheberrecht. Die Vervielfältigung, Bearbeitung, Verbreitung und jede Art der Verwertung außerhalb der Grenzen des Urheberrechtes bedürfen der schriftlichen Zustimmung des jeweiligen Autors bzw. Erstellers. Downloads und Kopien dieser Seite sind nur für den privaten, nicht kommerziellen Gebrauch gestattet. Soweit die Inhalte auf dieser Seite nicht vom Betreiber erstellt wurden, werden die Urheberrechte Dritter beachtet. Insbesondere werden Inhalte Dritter als solche gekennzeichnet. Sollten Sie trotzdem auf eine Urheberrechtsverletzung aufmerksam werden, bitten wir um einen entsprechenden Hinweis. Bei Bekanntwerden von Rechtsverletzungen werden wir derartige Inhalte umgehend entfernen.

Datenschutz

Die Nutzung unserer Webseite ist in der Regel ohne Angabe personenbezogener Daten möglich. Soweit auf unseren Seiten personenbezogene Daten (beispielsweise Name, Anschrift oder eMail-Adressen) erhoben werden, erfolgt dies, soweit möglich, stets auf freiwilliger Basis. Diese Daten werden ohne Ihre ausdrückliche Zustimmung nicht an Dritte weitergegeben.
Wir weisen darauf hin, dass die Datenübertragung im Internet (z.B. bei der Kommunikation per E-Mail) Sicherheitslücken aufweisen kann. Ein lückenloser Schutz der Daten vor dem Zugriff durch Dritte ist nicht möglich.
Der Nutzung von im Rahmen der Impressumspflicht veröffentlichten Kontaktdaten durch Dritte zur Übersendung von nicht ausdrücklich angeforderter Werbung und Informationsmaterialien wird hiermit ausdrücklich widersprochen. Die Betreiber der Seiten behalten sich ausdrücklich rechtliche Schritte im Falle der unverlangten Zusendung von Werbeinformationen, etwa durch Spam-Mails, vor.

Google Analytics

Diese Website benutzt Google Analytics, einen Webanalysedienst der Google Inc. (”Google”). Google Analytics verwendet sog. ”Cookies”, Textdateien, die auf Ihrem Computer gespeichert werden und die eine Analyse der Benutzung der Website durch Sie ermöglicht. Die durch den Cookie erzeugten Informationen über Ihre Benutzung dieser Website (einschließlich Ihrer IP-Adresse) wird an einen Server von Google in den USA übertragen und dort gespeichert. Google wird diese Informationen benutzen, um Ihre Nutzung der Website auszuwerten, um Reports über die Websiteaktivitäten für die Websitebetreiber zusammenzustellen und um weitere mit der Websitenutzung und der Internetnutzung verbundene Dienstleistungen zu erbringen. Auch wird Google diese Informationen gegebenenfalls an Dritte übertragen, sofern dies gesetzlich vorgeschrieben oder soweit Dritte diese Daten im Auftrag von Google verarbeiten. Google wird in keinem Fall Ihre IP-Adresse mit anderen Daten der Google in Verbindung bringen. Sie können die Installation der Cookies durch eine entsprechende Einstellung Ihrer Browser Software verhindern; wir weisen Sie jedoch darauf hin, dass Sie in diesem Fall gegebenenfalls nicht sämtliche Funktionen dieser Website voll umfänglich nutzen können. Durch die Nutzung dieser Website erklären Sie sich mit der Bearbeitung der über Sie erhobenen Daten durch Google in der zuvor beschriebenen Art und Weise und zu dem zuvor benannten Zweck einverstanden.

Google AdSense

Diese Website benutzt Google Adsense, einen Webanzeigendienst der Google Inc., USA (”Google”). Google Adsense verwendet sog. ”Cookies” (Textdateien), die auf Ihrem Computer gespeichert werden und die eine Analyse der Benutzung der Website durch Sie ermöglicht. Google Adsense verwendet auch sog. ”Web Beacons” (kleine unsichtbare Grafiken) zur Sammlung von Informationen. Durch die Verwendung des Web Beacons können einfache Aktionen wie der Besucherverkehr auf der Webseite aufgezeichnet und gesammelt werden. Die durch den Cookie und/oder Web Beacon erzeugten Informationen über Ihre Benutzung dieser Website (einschließlich Ihrer IP-Adresse) werden an einen Server von Google in den USA übertragen und dort gespeichert. Google wird diese Informationen benutzen, um Ihre Nutzung der Website im Hinblick auf die Anzeigen auszuwerten, um Reports über die Websiteaktivitäten und Anzeigen für die Websitebetreiber zusammenzustellen und um weitere mit der Websitenutzung und der Internetnutzung verbundene Dienstleistungen zu erbringen. Auch wird Google diese Informationen gegebenenfalls an Dritte übertragen, sofern dies gesetzlich vorgeschrieben oder soweit Dritte diese Daten im Auftrag von Google verarbeiten. Google wird in keinem Fall Ihre IP-Adresse mit anderen Daten der Google in Verbindung bringen. Das Speichern von Cookies auf Ihrer Festplatte und die Anzeige von Web Beacons können Sie verhindern, indem Sie in Ihren Browser-Einstellungen ”keine Cookies akzeptieren” wählen (Im MS Internet-Explorer unter ”Extras > Internetoptionen > Datenschutz > Einstellung”; im Firefox unter ”Extras > Einstellungen > Datenschutz > Cookies”); wir weisen Sie jedoch darauf hin, dass Sie in diesem Fall gegebenenfalls nicht sämtliche Funktionen dieser Website voll umfänglich nutzen können. Durch die Nutzung dieser Website erklären Sie sich mit der Bearbeitung der über Sie erhobenen Daten durch Google in der zuvor beschriebenen Art und Weise und zu dem zuvor benannten Zweck einverstanden.

Would you like to contact us without obligation?

Please fill out the form completely – we will we will contact you as soon as possible.
Contact details
Further information

Legal Notice

Amend Finance

Represented by:

Prof. Dr. Udo Amend

Responsible for content according to § 55 para. 2 RStV:

Prof. Dr. Udo Amend

Oberacher 1

CH-6315 Morgarten

Email: ud******@*mx.de

Disclaimer:

Liability for content

The content of our pages was created with the greatest care. However, we cannot accept any liability for the accuracy, completeness and timeliness of the content. As a service provider, we are responsible for our own content on these pages in accordance with § 7 para. 1 DDG. However, according to §§ 8 to 10 DDG, as a service provider, we are not obliged to monitor submitted or stored third-party information or to search for circumstances that indicate illegal activity. Obligations to remove or block the use of information in accordance with general laws remain unaffected. In this case, liability is only possible at the time of knowledge about a specific violation of law. If we become aware of any such violations of law, we will remove this content immediately.

Liability for links

Our offer contains links to external third-party websites over whose content we have no influence. We therefore cannot accept any liability for this external content. The respective provider or operator of the site is always responsible for the content of the linked pages. The linked pages were checked for possible violations of law at the time of linking. Illegal content was not recognizable at the time of linking. However, permanent control of the content of the linked pages is not reasonable without concrete evidence of a violation of law. If we become aware of any violations of law, we will remove such links immediately.

Copyright

The content and works on these pages created by the site operators are subject to German copyright law. Duplication, processing, distribution and any type of exploitation outside the limits of copyright law require the written consent of the respective author or creator. Downloads and copies of this page are only permitted for private, non-commercial use. Insofar as the content on this page was not created by the operator, the copyrights of third parties are observed. In particular, third-party content is marked as such. Should you nevertheless become aware of a copyright infringement, we ask you to inform us accordingly. If we become aware of any infringements, we will remove such content immediately.

 

Data protection

Using our website is generally possible without providing personal data. If personal data (such as name, address or email addresses) is collected on our pages, this is always done on a voluntary basis wherever possible. This data will not be passed on to third parties without your express consent. We would like to point out that data transmission on the Internet (e.g. when communicating by email) can have security gaps. Complete protection of data against access by third parties is not possible. The use of contact data published as part of the imprint obligation by third parties to send unsolicited advertising and information materials is hereby expressly prohibited. The operators of the pages expressly reserve the right to take legal action in the event of unsolicited advertising information being sent, for example through spam emails.

Google Analytics

This website uses Google Analytics, a web analysis service provided by Google Inc. (“Google”). Google Analytics uses so-called “cookies”, text files that are stored on your computer and that enable an analysis of your use of the website. The information generated by the cookie about your use of this website (including your IP address) is transmitted to a Google server in the USA and stored there. Google will use this information to evaluate your use of the website, to compile reports on website activity for website operators and to provide other services related to website activity and internet usage. Google may also transfer this information to third parties where required to do so by law, or where third parties process this data on Google’s behalf. Google will never associate your IP address with other Google data. You can prevent the installation of cookies by setting your browser software accordingly; however, we would like to point out that in this case you may not be able to use all functions of this website to their full extent. By using this website, you consent to the processing of data about you by Google in the manner and for the purposes set out above.

Google AdSense

This website uses Google Adsense, a web advertising service provided by Google Inc., USA (“Google”). Google Adsense uses so-called “cookies” (text files) that are stored on your computer and that enable an analysis of your use of the website. Google Adsense also uses so-called “web beacons” (small invisible graphics) to collect information. By using the web beacon, simple actions such as visitor traffic on the website can be recorded and collected. The information generated by the cookie and/or web beacon about your use of this website (including your IP address) is transmitted to a Google server in the USA and stored there. Google will use this information to evaluate your use of the website in relation to the advertisements, to compile reports on website activity and advertisements for website operators and to provide other services relating to website activity and internet usage. Google may also transfer this information to third parties where required to do so by law, or where third parties process the data on Google’s behalf. Google will never associate your IP address with other Google data. You can prevent cookies from being saved on your hard disk and web beacons from being displayed by selecting “Do not accept cookies” in your browser settings (in MS Internet Explorer under “Tools > Internet Options > Privacy > Settings”; in Firefox under “Tools > Settings > Privacy > Cookies”); however, please note that if you do this you may not be able to use the full functionality of this website. By using this website you consent to the processing of data about you by Google in the manner and for the purposes set out above.