J.P. Morgan Asset Management: The Weekly Brief

04.03.2013 17:23 - JPMorgan Asset Management (Switzerland) LLC

J.P. Morgan Asset Management: The Weekly Brief

Thema der Woche

Dem britischen Schatzkanzler, George Osborne, bleiben nur wenige Optionen. Die Regierung befasst sich gerade mit einer erheblichen Kürzung der Ausgaben, die 9% des BIPs von 2009 bis 2016 entsprechen (Vgl. Grafik). Doch das Ergebnis der Haushaltskonsolidierung sind schwaches Wachstum und der Verlust des AAA-Ratings. Sollte die Regierung daher die Sparmaßnahmen verringern, um das Wachstum anzukurbeln? Doch, egal was für oder gegen das Ausmaß der Haushaltskonsolidierung spricht, die Anleger, die in britische Staatsanleihen investiert sind, werden nichts von einer wahrnehmbaren Strategiewende halten. Denn bei Vorhersagen für das Haushaltsdefizit in 2013 übertrifft Großbritannien bereits jetzt alle anderen großen Volkswirtschaften. Außerdem scheint sich bei der britischen Notenbank hinsichtlich ihrer Einstellung zur Inflation bereits eine Strategiewende anzukündigen.

http://www.jpmam.ch/DEU/MarketInsights

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