Certificates: “Significantly higher turnover”

Short on Nasdaq 100 and long on Rheinmetall

HSBC clients are increasingly turning to the other side of the market to speculate on falling prices or to protect their share portfolios from a stronger correction. The turbo put warrant on the Nasdaq 100 (DE000HT1JLV1) is “heavily traded”, Weiß can report. The warrant, which only runs until mid-March, currently has a leverage of 15, meaning that high profits can be made quickly if it is successful. However, a rise in the index above the barrier of 23,000 points will result in a premature knock-out. A classic call warrant on the armaments group Rheinmetall (DE000HT0X1G7) with a strike price of EUR 750 and a term until December 2027 does not appear quite as speculative. “The warrant was a good buy to bet on rising prices over the next 2.5 years”. There is no risk of premature expiry with this type of leverage product.

Speculate on interest rate changes with the Euro Bund Future

In addition to equities, the focus is also on the development of capital market interest rates. By far the most popular underlying here is the Euro-Bund future traded on Eurex as a barometer of sentiment for the German bond market. At Bankhaus Vontobel, clients are currently increasingly betting on falling interest rates, which in turn would result in an increase in the Nund future. According to David Hartmann, a 30x leveraged mini long future on the Euro-Bund future (DE000VU646U8), for example, is being used for this purpose. With bond products, the leverage is usually significantly higher than with certificates on shares or share indices due to the usually lower price fluctuations of the underlying asset.

Euro Stoxx 50 discounter as an overnight money alternative

In the investment certificate segment, the strong interest in tech stocks is once again evident. “Nvidia was the most sought-after individual share in the investment segment,” reports Hartmann. For example, a discount certificate on Nvidia with a cap at 100 dollars and double-digit yield opportunities (DE000VC0LJ29) that runs until the end of the year is in demand. At index level, Weiß has observed good demand for a discount certificate on the Euro Stoxx 50 (DE000HS32072) maturing in December with a cap at 3,900 points and a maximum yield of just under 3.5 percent. “This shows that conservative investments are also interesting and can be used as an alternative to fixed-term deposits or overnight money, for example,” explains the certificate expert, explaining the possible background.

Crypto products remain in demand

According to Markus Königer from ICF Bank, the crypto segment continues to be one of the “stories being played” alongside tech stocks. The most frequently traded products here include the tracker certificate on DER AKTIONÄR Krypto TSI (CH1171791515) and the tracker certificate on BÖRSE ONLINE Best of Krypto (CH1171793321). These are two classic participation certificates from Leonteq on indices made up of various cryptocurrencies. According to Hartmann, the open-end participation certificates on Bitcoin (DE000VQ63TC1) and Ethereum (DE000VQ552V2) are also attracting lively interest. In this non-leveraged investment segment, trackers on the Solactive Quantum Computing Index (DE000VP4XD45) and the Solactive A.I. Performance Index (DE000VL3SJB4) are also in demand. Which brings us back to the area of tech stocks.