J.P. Morgan Asset Management - The Weekly Brief

15.02.2021 11:34 - JPMorgan Asset Management (Switzerland) LLC

J.P. Morgan Asset Management - The Weekly Brief

Im Gegensatz zur westlichen Welt, wo die Covid-19-Infektionsraten weiterhin problematisch hoch sind, ist Chinas Eindämmungsstrategie nach wie vor erfolgreich. Mit dem jüngsten Ausbruch in China sind die täglichen Fallzahlen auf den höchsten Stand seit Mai gestiegen, durch die rasche Reaktion der Regierung jedoch ebenso stark wieder gesunken. Dank der mehrfach erfolgreichen Strategie konnte China seine Wirtschaft in einer Weise wieder öffnen, wie es in Europa und den USA bislang nicht möglich war. Dadurch kam es zu einer echten V-förmigen Erholung, wie die jüngsten BIP-Daten belegen. Aufgrund der relativ robusten Wirtschaftslage brauchte China letztes Jahr keine derart starken geldpolitischen Anreize wie viele Industrieländer. Für Anleger bedeutet dies, dass Chinas Staatsanleihen in Lokalwährung höhere Renditen bieten als viele Industrieländer und gleichzeitig eine geringe Korrelation zu Aktien aufweisen.

The Weekly Brief_JPMAM_15.02.2021.pdf

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