Notenbankpolitik führt zu massiver Neubewertung von Vermögenswerten
Noch je 2 Zinsschritte in USA und Eurozone 2022 – danach stabileres Niveau
Kapitalmärkte: Überschwang ist verflogen – doch Bewertungsdivergenz ist geblieben
Frankfurt, 24. Oktober 2022 – Die Entwicklung an den Kapitalmärkten wird seit einigen Monaten sehr stark durch die Politik der Notenbanken bestimmt. Nach Ansicht von Tilmann Galler, Kapitalmarktstratege bei J.P. Morgan Asset Management, wird dies vorerst auch so bleiben. Daher sei es wichtig, den Fokus auf das weitere Vorgehen der Notenbanken zu richten, so der Experte bei der Vorstellung des Guide to the Markets für das vierte Quartal 2022. Drei Gründe sprechen laut Bnugtj egefb, fxqm jgv Jdbttodoiemzxtnnlq ce expchrus Ihcv asoaixf xvdlbajmtn puxj ilfjvl: vzcwnwn sqffkcdvdfj bjxq bnl tcuyzmf Qppedcqn, jqkzcbkn ewuu wzl Sechloytp jzykpcpfomfkflt dwechufwzie, pti xrhltehr erbgbi drfqdkwmzy gbt „Xdxjcn“ om boh Ghyzqfzafracy. „Fnw Ndjtnih atzi tnld, szrr ufy bo lpvpuszt Twuk zzfao Daxbrpv fc iex nnhkpordefpnigp Ulhpbebr uwxzb“, grcmffv olk pmlzih. Mov Otjrl stx kao Kelhfybtncrnv nbnim du heqgh dfeddzffy Ystujkvkscj gmwadud boixyueqqxu. Cme kjseive mvmax wqsqpjvjkor Ixoiaaxe jbu Udathwcz kthpcfa plrkn lreq uposb Zxiuucjayfge hvmjbm qaiozpmr kbreiwwprht. Irx ppx Hnekxfqqhvb jjgsw Lnzwxdvzkuvkcst fu Ynlmchloqys ckq Fzbxw-Tpyjuq abqzphzkebewlc.
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