J.P. Morgan Asset Management - The Weekly Brief

25.03.2019 16:20 - JPMorgan Asset Management (Switzerland) LLC

J.P. Morgan Asset Management - The Weekly Brief

Die US-Notenbank (Fed) zeigte sich auf ihrer geldpolitischen Sitzung im März geduldig. Wie allgemein erwartet wurden die Leitzinsen von 2,25% bis 2,50% beibehalten. In ihrem „DotPlot“ ein Punktdiagramm, das grafisch darstellt, welchen Tagesgeldsatz die Mitglieder im Offenmarktausschuss in den nächsten Jahren erwarten – hat die Fed ihre Zinsprognose deutlich gesenkt: Wurden auf der Dezember Sitzung noch zwei Anhebungen für 2019 und eine Anhebung für 2020 erwartet, werden mittlerweile keine Zinsschritte für 2019 und weiterhin nur eine Zinserhöhung für 2020 antizipiert. Parallel zu dieser zurückhaltenden Zinswende gab die Fed bekannt, dass die quantitative Straffung (der Abbau ihrer Bilanzsumme) bis September eingestellt wird. In ihrer Gesamtheit demonstrieren diese Änderungen die zurückhaltende Grundtendenz der Fed seit Ende 2018.

JPMAM_The Weekly Brief_25.03.2019.pdf

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