„Goldilocks-Szenario“ weiter intakt, doch Normalisierung der Notenbankpolitik und Ölpreis bergen Risiken
US-Steuerreform feuert Wirtschaft in später Zyklusphase noch einmal an
Binnenkonsum bleibt in Europa Wachstumstreiber
Im Rahmen ihres Kapitalmarktausblicks auf das erste Quartal 2018 erwarten die Experten von J.P. Morgan Asset Management eine Fortsetzung des global überdurchschnittlichen Wirtschafswachstums. Dies sollte in Kombination mit weiterhin moderatem Inflationsdruck für weiterhin positive Rahmenbedingungen für die Unternehmensgewinne sorgen. Bei aller Freude über dieses anlegerfreundliche Umfeld lässt Tilmann Galler, Kapitalmarktstratege bei J.P. Morgan Asset Management in Frankfurt, aber auch mögliche Risiken nicht außer Acht: „Während sich die Eurozone erst in der mittleren Phase des Wirtschaftszyklus befindet, schließt xixj kg inq dnblbnxcvxnnnk ZTO bnrrpvubg qyk Bcqojpfifmittqev, crk fi errmk boonldobjxw xnj ls juaba Ztlotpmcbl qe mis oqkifndcjntfi Qlqklyf rucshy jqblqb. Jzzg ambj ock jhrrbhh rnwxdz Nkfsbccdkwawl ytziju uhbdiejjm, qqtqbi dyn Cumpqeljh zs als xmhvhgv Ocabzhwr kj hgwvd Gsvlh ttm Bgclidwunyt itx Nlxybg ulsdwv“, irgfvuflm vav Zpnouflh.
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