J.P. Morgan Asset Management - The Weekly Brief

01.03.2021 10:56 - JPMorgan Asset Management (Switzerland) LLC

J.P. Morgan Asset Management - The Weekly Brief

Dienstleistungen haben stärker unter den nationalen Lockdowns gelitten als das verarbeitende Gewerbe, aber es gibt Licht am Ende des Tunnels. In Grossbritannien wecken die raschen Impffortschritte die Hoffnung auf eine Rückkehr zur Normalität, und die Stimmung im Dienstleistungssektor beginnt sich zu erholen. Dagegen laufen die Impfprogramme in der Eurozone aufgrund der logistischen Schwierigkeiten und Versorgungsengpässe nur schleppend an. Die Stimmung im Dienstleistungssektor der Eurozone bleibt gedrückt, wie der Rückgang des EMI auf 44,7 Zähler im Februar zeigt. Die Reaktion auf diese unterschiedlichen Umstände scheint sich hauptsächlich an den Devisenmärkten abzuspielen, wo das britische Pfund gegenüber dem Euro aufgewertet hat. Irgendwann wird die Bevölkerung in Kontinentaleuropa jedoch ausreichend geimpft sein, um zur Normalität zurückzukehren. Wenn sich die Lücke zur britischen Impfrate allmählich schliesst, könnte der Euro einen Teil seiner jüngsten Verluste gegenüber dem Pfund wieder aufholen.

The Weekly Brief_JPMAM_01.03.2021.pdf

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