J.P. Morgan Asset Management - The Weekly Brief

10.10.2022 11:04 - JPMorgan Asset Management (Switzerland) LLC

J.P. Morgan Asset Management - The Weekly Brief

Die endgültigen Gesamt-Einkaufsmanagerindizes (EMI) für September deuteten auf eine schrumpfende Volkswirtschaft in den USA, der Eurozone und Grossbritannien hin. Die US-Unternehmensumfrage verbesserte sich zumindest gegenüber dem sehr schwachen Niveau des Vormonats, und der Konkurrenzindikator des Institute for Supply Management (nicht dargestellt) blieb im positiven Bereich. In Grossbritannien belasten Energiesorgen und steigende Zinsen weiterhin die Stimmung. In der Eurozone führte Deutschland den Abwärtstrend an, aber auch Spanien und Italien waren rückläufig; Frankreich konnte noch einen positiven Wert verzeichnen. Diese jüngsten Konjunkturumfragen zeigen, dass das Risiko einer weltweiten Rezession gestiegen ist. Investoren sollten jedoch bedenken, dass die Aktienmärkte in diesem Jahr bereits deutlich gefallen sind, insbesondere in US-Dollar. Daher preisen viele Aktien bereits ein erhebliches Rezessionsrisiko ein.

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