J.P. Morgan Asset Management - The Weekly Brief

01.02.2021 12:26 - JPMorgan Asset Management (Switzerland) LLC

J.P. Morgan Asset Management - The Weekly Brief

Die britischen Arbeitsmarktdaten waren im Januar nicht so schlecht wie befürchtet, da die Arbeitslosenquote nur auf 5,0 % stieg (weniger als vom Konsens erwartet). Das Beurlaubungsprogramm war die zentrale Säule der wirtschaftlichen Reaktion der Regierung auf Covid-19 und äusserst effektiv, da es die Arbeitsplatzverluste eingedämmt und das Vereinigte Königreich auf eine starke Erholung vorbereitet hat, sobald die Aktivitätsbeschränkungen aufgehoben werden können. Laut Daten des britischen Statistikamtes haben die Privathaushalte in den ersten drei Quartalen 2020 mehr gespart als in den beiden Vorjahren zusammen. Sobald die Verbraucher diese Rücklagen einsetzen, um ihren Nachholbedarf zu decken, erwarten wir eine kräftige Belebung der Aktivität. Sofern ein erneuter virusbedingter Schock ausbleibt, dürfte ein wirtschaftlicher Aufschwung den Druck von der Bank of England nehmen, weitere Anreize zu setzen, und die Aussicht auf negative Zinsen lässt nach.

The Weekly Brief_JPMAM_01.02.2021.pdf

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