J.P. Morgan Asset Management - The Weekly Brief

19.06.2017 15:33 - JPMorgan Asset Management (Switzerland) LLC

J.P. Morgan Asset Management - The Weekly Brief

Eigentlich wurde erwartet, dass die politischen Entwicklungen 2017 zu einem Schreckensjahr

für die europäischen Märkte machen würden. Glücklicherweise traf diese Prognose jedoch

nicht ein. Die Wahlen in den Niederlanden und Frankreich wurden von Kandidaten der Mitte für

sich entschieden, während die Unterstützung von europafeindlichen Parteien zwar noch

beträchtlich ist, aber sowohl in den Umfragen als auch an der Wahlurne nachzulassen scheint.

Wie die Abbildung diese Woche zeigt, ist die Risikoprämie einiger Anleihenmärkte der

Eurozone in den letzten Wochen gesunken, da die Märkte die marktfreundlichen Nachrichten

dankbar aufgenommen haben. Da die Wertentwicklung von Aktien in Europa bereits günstiger

ist als in den USA (19,1 % ggü. 10 % seit Jahresbeginn in US-Dollar), sieht es ganz danach aus,

als könnte 2017 ein erfreuliches Jahr für Anleger werden, die den Glauben an das europäische

Projekt nicht verloren haben.

JPMAM_The Weekly Brief_19.06.2017.pdf

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