J.P. Morgan Asset Management - The Weekly Brief

24.08.2020 10:45 - JPMorgan Asset Management (Switzerland) LLC

J.P. Morgan Asset Management - The Weekly Brief

Der S&P 500 erreichte letzte Woche ein neues Allzeithoch und brauchte damit nur 148 Tage, um den Rückgang von 34 % aufzuholen, den er vom 19. Februar bis 23. März verzeichnete. Der Markt hat sich im Vergleich zu den meisten früheren Bärenmärkten rasch erholt, obwohl die US-Wirtschaft aus historischer Sicht gerade eine sehr tiefe Rezession erlebt hat. Die Beschleunigung der Covid-19-Infektionen in den USA in den letzten zwei Monaten hat eine vollständige Erholung der Wirtschaft verhindert, kommt aber weiterhin einigen der „Stubenhocker-Aktien“ zugute, die den Aufschwung am US-Markt angeführt haben. Von nun an könnte es diesen Titeln nicht mehr so leicht gelingen, den Aktienmarkt nach oben zu ziehen. Eine Verbesserung der Pandemie-Situation könnte jedoch den zahlreichen Aktien zu weiteren Gewinnen verhelfen, die bislang unter ihrem vorherigen Höchststand notieren.

JPMAM_The Weekly Brief_24.08.2020.pdf

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