On January 23rd, Germany’s Dax jumped to a new record high. But after no more than eight trading days, the German benchmark index lost over 7%, wiping out all year-to-date gains. Deutsche Bank AM’s reaction is optimistic instead: Its preference of German equities is the healthy macroeconomic environment and state of German corporations. On a 2-year horizon, the Dax could even climb to 15,000 points.