J.P. Morgan Asset Management - The Weekly Brief

16.05.2022 14:24 - JPMorgan Asset Management (Switzerland) LLC

J.P. Morgan Asset Management - The Weekly Brief

Die US-Inflationsdaten von letzter Woche enthielten sowohl gute als auch schlechte Nachrichten. Die gute Nachricht war, dass die Gesamtinflation von jährlich 8,5 % auf 8,3 % und die Kerninflation von 6,5 % auf 6,2 % zurückging. Die schlechte Nachricht: Diese Werte waren erneut höher, als die Investoren erwartet hatten. Der Rückgang der Gebrauchtwagenpreise dämpfte zwar die Kerngüterinflation, doch die Dienstleistungsinflation zog stark an, da sich die Nachfrage aus dem Gütersektor verlagert. Dieser Anstieg bei einigen der „zäheren“ Inflationskomponenten wird der US-Notenbank (Fed) gewisse Sorgen bereiten. Sofern die Inflation weiter nachlässt, könnte eine gemässigtere Wortwahl der Zentralbanken dazu beitragen, die jüngste Nervosität der Investoren zu beruhigen. Die Fed wird jedoch weitaus mehr als die Daten eines Monats brauchen, bevor die Währungshüter grössere Zuversicht signalisieren, dass sich die Inflation abkühlt.

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