J.P. Morgan Asset Management - The Weekly Brief

19.04.2021 10:34 - JPMorgan Asset Management (Switzerland) LLC

J.P. Morgan Asset Management - The Weekly Brief

Mit der weltweiten Einführung der Coronavirus-Impfstoffe sehen wir eine schrittweise Aufhebung der Beschränkungen und eine anschliessende Zunahme der hochfrequenten Mobilitätsdaten. Nach vorübergehenden Restriktionen zu Jahresbeginn haben sich die chinesischen Daten wieder normalisiert, und in den USA und Grossbritannien, wo die Impfkampagnen gut vorangekommen sind, hat die Aktivität rasch zugenommen. In Europa mag sich die Erholung etwas verzögern, aber in den kommenden Monaten werden sich die Impfungen voraussichtlich beschleunigen. Die zunehmende globale Aktivität dürfte binnenorientierten, auf Verbraucher ausgerichteten Aktien zugutekommen. Wir sehen bei den Gewinnschätzungen in diesen zyklischen Sektoren weiteres Aufwärtspotenzial. Die kurzfristige Zukunft des internationalen Reiseverkehrs bleibt indes fraglich, weshalb sich Anleger möglicherweise auf eher binnenwirtschaftlich orientierte Erholungs-Storys konzentrieren sollten, bis die Aussichten für Auslandsreisen geklärt sind.

JPMAM_The Weekly Brief_19.04.2021.pdf

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