J.P. Morgan Asset Management - The Weekly Brief

16.11.2020 10:12 - JPMorgan Asset Management (Switzerland) LLC

J.P. Morgan Asset Management - The Weekly Brief

Der Fortschritt zu einem Covid-19-Impfstoff hat eine Rotation an den Märkten ausgelöst. Globale Value-Aktien bildeten dieses Jahr grösstenteils das Schlusslicht, verbuchten gegenüber globalen Wachstumswerten jedoch ihren stärksten Handelstag aller Zeiten, nachdem bekannt wurde, dass der Impfstoffkandidat von Pfizer und BioNTech zu mehr als 90 % wirksam war. Noch bestehen erhebliche Unsicherheiten, u. a. die Dauer des Impfschutzes, inwieweit der Impfstoff die Ansteckung eindämmt, die logistischen Herausforderungen für Produktion und Vertrieb sowie die Akzeptanz in der Bevölkerung. Mit der Nachricht eines wirksamen Impfstoffs sehen die Märkte nun aber ein Licht am Ende des Tunnels, zumal andere Studien ebenfalls positive Ergebnisse erzielen könnten. Mit Blick auf 2021 sind die Voraussetzungen für eine ausgewogenere Ertragsentwicklung geschaffen – nach Sektor, Anlagestil und letzten Endes nach Region.

JPMAM_The Weekly Brief_16.11.2020.pdf

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