Angeschlagene chinesische Wirtschaft, europäische Energiekrise, aggressive Straffung der Geldpolitik sind Belastungsfaktoren
Eine weitere große Zinserhöhung der US-Notenbank ist diese Woche so gut wie sicher, und die Markterwartung eines Spitzenwertes von 4 % könnte zu konservativ sein
Wir bleiben für weitere Wachstumsenttäuschungen, anhaltende Inflation und zunehmenden Druck auf Unternehmensgewinne positioniert
Die globalen Wachstumsaussichten sind nach wie vor düster: Die chinesische Wirtschaft schwächelt, Europa steckt in einer Energiekrise und einer Inflationsspirale. Die EZB und die Fed sind dabei, die Geldpolitik aggressiver zu straffen, um dem Risiko nicht verankerter Inflationserwartungen zu begegnen. Unser Multi-Asset-Modell-Portfolio bleibt für dieses negative Szenario positioniert, das durch den
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