J.P. Morgan Asset Management: The Weekly Brief

04.04.2013 09:45 - JPMorgan Asset Management (Switzerland) LLC

J.P. Morgan Asset Management: The Weekly Brief

Thema der Woche:

In den letzten drei Jahren verzeichneten die globalen Aktienmärkte im jeweils ersten Quartal stets eine gute Entwicklung, die dann im Frühjahr/Sommer von einem massiven Ausverkauf abgelöst wurde. Auch wenn Kursverluste jederzeit möglich sind, unterscheidet sich das Anlageumfeld 2013 in vielen Aspekten doch deutlich von den Vorjahren. Erstens haben die weltweiten Zentralbanken ihre Absicht bekräftigt, an einer sehr lockeren Geldpolitik festzuhalten, während quantitative Lockerungsmassnahmen in der Vergangenheit eher eine einmalige Angelegenheit waren. Zweitens deuten die Makrodaten darauf hin, dass die wirtschaftliche Situation in den weltweit grössten Volkswirtschaften eine Bodenbildung erreicht hat. So schaffen die steigenden Immobilienpreise in den USA eine solide Basis für das Wirtschaftswachstum. Die einsetzende Erholung und die gestiegene Risikobereitschaft der Investoren haben seit Jahresbeginn über 140 Mrd. USD in Aktienfonds gespült. 2013 könnte das Jahr sein, in dem sich die Geschichte nicht wiederholt. -Tom Elliott

http://www.jpmam.ch/deu/marketinsights

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