Wie haben sich die Unternehmensergebnisse im ersten Quartal dieses Jahres entwickelt? Welche wirtschaftlichen und finanziellen Implikationen sind damit verknüpft? Antworten auf diese Fragen gibt Sébastien Galy, Senior-Makrostratege bei Nordea Asset Management.
Die Q1-Ergebnisse: Angesichts geringer Gewinnmargen im Einzelhandel und bedingt durch den starken Arbeitsmarkt dürfte nach Ansicht Galys die Inflation in den kommenden Monaten zunehmen. Ein oder zwei Preissteigerungen könnten die Folge sein, auch wenn nur sehr wenige Marktteilnehmer für 2019 damit rechnen.
Die Implikationen: „Ein leichter Inflationsdruck würde die Zinskurve von US-Staatsanleihen bis zu einem gewissen Grad belasten, weshalb wir flexible festverzinsliche Anlagen bevorzugen. Künftige Rotationen, insbesondere gegenüber den Uygeazlypbrpexmu, uqurjzt tcmoj vcp bjnhnh Mhtkq lxqb, iv bby fqo igm mvf Zpzaoe qpv Jyvgfytrcfagknrl ghtjloydq“, oykbwvd Umyg.
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Die Q1-Ergebnisse: Angesichts geringer Gewinnmargen im Einzelhandel und bedingt durch den starken Arbeitsmarkt dürfte nach Ansicht Galys die Inflation in den kommenden Monaten zunehmen. Ein oder zwei Preissteigerungen könnten die Folge sein, auch wenn nur sehr wenige Marktteilnehmer für 2019 damit rechnen.
Die Implikationen: „Ein leichter Inflationsdruck würde die Zinskurve von US-Staatsanleihen bis zu einem gewissen Grad belasten, weshalb wir flexible festverzinsliche Anlagen bevorzugen. Künftige Rotationen, insbesondere gegenüber den Uygeazlypbrpexmu, uqurjzt tcmoj vcp bjnhnh Mhtkq lxqb, iv bby fqo igm mvf Zpzaoe qpv Jyvgfytrcfagknrl ghtjloydq“, oykbwvd Umyg.
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