J.P. Morgan Asset Management - The Weekly Brief

04.12.2017 10:51 - JPMorgan Asset Management (Switzerland) LLC

J.P. Morgan Asset Management - The Weekly Brief

Das robuste Wachstum in den USA wird von einem sich verbessernden Arbeitsmarkt

und einem steigenden Verbrauchervertrauen unterstützt. Die jüngste Umfrage des

Conference Board zum Verbrauchervertrauen zeigt weitere Anzeichen von Engpässen

auf dem Arbeitsmarkt, wobei der Abstand zwischen denen, die denken, dass Jobs

reichlich vorhanden sind, und denen, die denken, dass es schwer ist eine Arbeitsstelle

zu finden, grösser wird. Historisch gesehen hat dies zu einem Aufwärtsdruck auf das

Lohnwachstum geführt. Wenn sich das Lohnwachstum in Zukunft beschleunigt, könnte

das das Verbrauchervertrauen weiter stärken, welches inzwischen auf dem höchsten

Stand seit 2000 ist. Sofern das Lohnwachstum anzieht, müsste die US-Notenbank den

Leitzins möglicherweise schneller erhöhen, als es der Markt erwartet. Dies könnte ein

Risiko für Staatsanleihen darstellen.

JPMAM_The Weekly Brief_04.12.2017.pdf

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