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2019/08/02 / Erste Group Research

Wochenausblick - Ein Tweet für die Notenbanken

Präsident Trump überraschte am Donnerstag die Märkte mit der Ankündigung, USD 300 Mrd. an Importen aus China ab 1. September mit einem Zollsatz von 10% zu belegen. Damit sind Hoffnungen auf eine Beruhigung des Konflikts nicht nur zu Nichte gemacht, sondern eine Eskalation scheint unausweichlich, da Gegenmaßnahmen Chinas wohl nicht lange auf sich warten lassen werden.

Mit der Ankündigung des US-Präsidenten sind die Risiken für eine Konjunkturabschwächung, die sowohl für die EZB als auch für die US-Fed entscheidende Bedeutung haben, gestiegen. Die Konjunktur wird in beiden Wirtschaftsräumen durch die weiter anhaltende Unsicherheit belastet werden.

Die Eintrübung des Umfelds zusammen mit unseren neuen Erwartungen für die Geldpolitik führen zu einer Absenkung der Rendite-Prognosen.

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General information

AuthorErste Group Research
Product nameWochenausblick
Topic in focusMacro/ Fixed income
Economy in focusEurozone, United States
Currency in focusEuro, US Dollar
Sector in focus-


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