J.P. Morgan Asset Management - The Weekly Brief

12.08.2019 14:11 - JPMorgan Asset Management (Switzerland) LLC

J.P. Morgan Asset Management - The Weekly Brief

Seit 2008 durchbrach der chinesische Renminbi (RMB) in der vergangenen Woche erstmals den psychologischen Grenzwert von 7 RMB für 1 US-Dollar. Dies geschah im Anschluss an die Ankündigung der US-Administration, weitere Zölle auf chinesische Importe zu erheben. Die Entscheidung der People‘s Bank of China, diesen Grenzwert nicht im Auge zu behalten, wurde von vielen Anlegern als eine Warnung an die US-Administration eingeschätzt. Daraufhin bezichtigten die USA China, ein „Währungsmanipulator“ zu sein. Die aktuelle Eskalation der Spannungen zwischen den USA und China hat die Finanzmärkte erschüttert. Einerseits nahm die Volatilität des Aktienmarkts zu und andererseits fiel die Rendite zehn- und dreißigjähriger US-Staatsanleihen auf einen Stand, der vor der US-Präsidentschaftswahl 2016 verzeichnet wurde. In Anbetracht der Tatsache, dass Renditen weiter sinken können, wenn sich die Wirtschaftsaussichten verschlechtern, sind Staatsanleihen unserer Meinung nach ein zusätzlicherBallastfürPortfolios.

JPMAM_The Weekly Brief_12.08.2019.pdf

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