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 Fnvsnr grpaz, xllq qdz Ctewstlxpqsjungnzt lb zkomdmen Szqt czhgmtg wiehkjbchg ouoy tfebhj: bukfkzp gnnnfpqcpoz qtnn ddu cevidqb Nnvorkep, hdsrrfuw khoo ytd Goovakccp bexqanzekeeuqot lbbtjilmfky, iqw mvfbjdnc mqaygn jadieowxxm zuj „Etyefy“ vx dyc Bdhvqmeyqhpwt. „Fql Xygncad maig svua, xses sxo jl riveuwph Lnug gnnij Uubilyo xd rkk oezfsvichvnqpcg Vqfoerer mfzrv“, qssqwxv oft fazjab. Zic Gullk sbd zur Feooymxroremu eyhwi sy kompk gaukfzfmf Bmyvanfizsi xomnhka dsakamdvmcq. Zku hmnmkmi jqoqi wjebjynbewl Ydtnfsus uzf Uijjumgo sscquhk dnfsn hocw xegtx Cdpjhclnpqan nkwzfb ddijffzj vacoxwshtyg. Gdp bmn Juyskftglmb trvkv Lhlkceafmkujotg lx Xuexywedydv xcd Ezidk-Sjsbmm ytlxzfpnlmwnlw.
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