J.P. Morgan Asset Management - The Weekly Brief

10.12.2018 14:13 - JPMorgan Asset Management (Switzerland) LLC

J.P. Morgan Asset Management - The Weekly Brief

Ein zentrales Thema, das die Eurozone 2018 belastet hat, war die politische Ungewissheit.

Während die US-Regierung ihre protektionistische Handelspolitik gegen China in die Tat

umsetzte, geriet Europa ins Kreuzfeuer der aussenwirtschaftlichen Spannungen. Auch wenn

ein direkter Konflikt zwischen den USA und der Europäischen Union (EU) über die

Automobilzölle bislang vermieden werden konnte, hat sich die Verlangsamung des

Welthandels negativ auf die Nachfrage und das Geschäftsklima in Europa ausgewirkt. In Italien

hat der Haushaltsstreit zwischen der Regierung und Brüssel zudem die Fremdkapitalkosten

erhöht. Infolgedessen lagen die beiden letzten Werte für den italienischen GesamtEinkaufsmanagerindex (EMI) unter der Marke von 50 Zählern. Dies deutet darauf hin, dass die

Wirtschaft des Landes schrumpft. All das könnte weiterhin für Ungewissheit sorgen; eine

Deeskalation in einer der beiden Situationen wäre jedoch eine willkommene Erleichterung für

die Wirtschaft in der Eurozone.

JPMAM_The Weekly Brief_10.12.2018.pdf

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