J.P. Morgan Asset Management - The Weekly Brief

27.05.2019 10:48 - JPMorgan Asset Management (Switzerland) LLC

J.P. Morgan Asset Management - The Weekly Brief

Für eine Weile sah danach aus, dass der Handelskonflikt zwischen den USA und China nachlassen würden. Ein Zusammenbruch der Verhandlungen hat gegenteilige Befürchtungen in den letzten Wochen jedoch erneut angefacht. Die Handelsspannungen und Tarifmassnahmen haben bereits zu einem nachlassenden globalen Handel geführt und dem Geschäftsklima einen Dämpfer verpasst. Wie die folgende Grafik zeigt, manifestierte sich das angeschlagene Vertrauen in sinkenden Investitionsabsichten in den USA und Europa. Die geplanten Unternehmensinvestitionen in Europa geben seit 2018 deutlich nach, und das Risiko potenzieller Automobilzölle sorgt in der Region weiterhin für Unruhe. In den USA sah es danach aus, dass sich die Investitionsabsichten erholen würden, da ein Handelskompromiss in greifbarer Nähe schien. Die erneut eskalierenden Spannungen bedeuten jedoch, dass den Unternehmen weitere Ungewissheit bevorsteht und die Unternehmensinvestitionen darunter leiden werden.

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