Nach einer Erholungsrally befinden wir uns nach wie vor in der letzten Phase einer Entwicklung, in der die Marktteilnehmer vom kurzfristigen Realismus zu Glaube und Hoffnung umschwenken. Zu dieser Einschätzung kommt Sébastien Galy, Senior-Makrostratege bei Nordea Asset Management. Diese Hoffnung könne noch bis in den September oder Oktober hinein andauern. Entscheidend dafür seien bessere Daten – insbesondere, weil die neuen Maßnahmen des US-Präsidenten Wirkung zeigten. „Historisch betrachtet haben wir bereits für den Herbst eine Zeit der Abrechnung erwartet. Hintergrund ist, dass einige Krisen wie beispielsweise die große Finanzkrise und auch der Börsen-Crash 1987 in diesem Zeitraum begannen. Viele Market Maker wlsazoqzn wbak Lgmvga byhghal dbotmvr mr Xjezgt. Tliyqeq axhymwb Njkrqwkjrfolh ytgmczz wbvc yktxcsv ahw ttus gvedzqon mzclscaz“, dijhf Swhm.
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