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DWS Sees Volatile Summer Ahead for Markets, Cuts Risk Exposure

  • Summers traditionally tend to be weak, asset manager says
  • Downgrades Europe stocks; corporate, Spanish and Italian debt
DWS Group logos outside the Frankfurt Stock Exchange.
Photographer: Alex Kraus/Bloomberg

German investment giant DWS Group is taking a break from risk for the summer.

A combination of political uncertainty in Europe and the U.S., seasonal effects and factors such as the strong dollar and high oil price could result in “fairly volatile” capital markets in coming months, according to the 700 billion euro ($820 billion) asset manager.