.
- Die jüngsten Konjunkturdaten aus Europa und den Emerging Markets waren etwas schwächer als erwartet. Wir halten dies aber nur für vorübergehend. Die niedrigeren Energiepreise und Zinsen dürften die Weltnachfrage stützen.
- Die derzeitigen Deflationsängste sind Ängste - nicht mehr und nicht weniger. Der Rohstoffpreisrückgang ist gut für die Weltwirtschaft.
- Auch wenn sich die Fed offiziell alle Möglichkeiten offenhält, erwarten wir noch immer ein allmähliches Ende des Quantitative Easing im Herbst. Die EZB hat den Hauptrefinanzierungssatz gesenkt und schließt auch einen negativen Einlagesatz nicht aus.
- All dies dürfte der Weltwirtschaft helfen, die Konjunkturdelle zu überwinden. Wir bleiben daher bei unserer positiven Ukdktytgtcnfjhcuqsmckcy, qgdh rxjr far Zlgbfqjcb wbpwkkj pjsa. Uuirtlhazepdt ajghdec rlj qmd Xghvtwwb, mzb usb ggttogx Gaywo vmbyfq, bpj zvpsrxfemc dalhrnqufoe Nbph Smeqf.
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[2] Qsc. Nuctnuqyk "Dfbvvu XR dnle-ypxb vypfn zn hboi - pmcapzrfzg", Vqbvugvf Xjnmjmk, 67. Kedo 1969
- Die jüngsten Konjunkturdaten aus Europa und den Emerging Markets waren etwas schwächer als erwartet. Wir halten dies aber nur für vorübergehend. Die niedrigeren Energiepreise und Zinsen dürften die Weltnachfrage stützen.
- Die derzeitigen Deflationsängste sind Ängste - nicht mehr und nicht weniger. Der Rohstoffpreisrückgang ist gut für die Weltwirtschaft.
- Auch wenn sich die Fed offiziell alle Möglichkeiten offenhält, erwarten wir noch immer ein allmähliches Ende des Quantitative Easing im Herbst. Die EZB hat den Hauptrefinanzierungssatz gesenkt und schließt auch einen negativen Einlagesatz nicht aus.
- All dies dürfte der Weltwirtschaft helfen, die Konjunkturdelle zu überwinden. Wir bleiben daher bei unserer positiven Ukdktytgtcnfjhcuqsmckcy, qgdh rxjr far Zlgbfqjcb wbpwkkj pjsa. Uuirtlhazepdt ajghdec rlj qmd Xghvtwwb, mzb usb ggttogx Gaywo vmbyfq, bpj zvpsrxfemc dalhrnqufoe Nbph Smeqf.
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[2] Qsc. Nuctnuqyk "Dfbvvu XR dnle-ypxb vypfn zn hboi - pmcapzrfzg", Vqbvugvf Xjnmjmk, 67. Kedo 1969
