J.P. Morgan Asset Management - The Weekly Brief

02.11.2015 10:36 - JPMorgan Asset Management (Switzerland) LLC

J.P. Morgan Asset Management - The Weekly Brief

Die vergangene Woche stand ganz im Zeichen der Zentralbanken mit Sitzungen der US

Federal Reserve, der Bank of Japan und der Sveriges Riksbank, der ältesten Zentralbank der Welt. Am Mittwoch entschied die Schwedische Zentralbank die Leitzinsen nicht zu verändern, weitete aber ihre quantitativen Lockerungsmassnahmen aus (von 135 Mrd. SEK auf 200 Mrd.SEK). Von Januar bis Juni 2016 wird die Zentralbank weitere Käufe tätigen. Während die meisten Zentralbanken mit einer Währungsabwertung konfrontiert sind, nachdem Details zu einer Lockerungsmassnahme bekannt gegeben werden, legte die Schwedische Krone

hingegen im Vergleich zu anderen Währungen sogar zu. Grund dafür könnte sein, dass die

Verantwortlichen deutlich machen, dass eine Zinssenkung Ende des Jahres nicht

wahrscheinlich ist und zudem die Inflation im Land langsam wieder anzieht. Die Anleihenmärkte haben sich daraufhin wie erwartet verhalten: Die Rendite der 2-jährigen Anleihen in Schweden, Frankreich, Finnland und Belgien fielen. Die Ära der

aussergewöhnlichen Geldpolitik hält an.

J.P. Morgan_The Weekly Brief_02.11.2015.pdf

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