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2020/12/21 / Erste Group Research

Die strikten Eindämmungsmaßnahmen der zuletzt stark gestiegenen Infektionszahlen mit SARS-CoV-2 haben im Q4 neuerlich Druck auf die Wirtschaftsleistung ausgeübt, diesmal aber nicht so stark wie im 2. Quartal 2020. Rund um den 9. November kam Euphorie an den Finanzmärkten auf, da eine baldige Zulassung von Impfstoffen gegen COVID-19 in Aussicht gestellt wurde. Wir erwarten im kommenden Jahr eine schrittweise Eindämmung der Pandemie und eine Festigung der wirtschaftlichen Erholung ab dem 2. Quartal 2021. Die Notenbanken werden weiterhin großzügig mit Liquidität unterstützen und Konjunkturprogramme sollten ihre Wirkung entfalten. Dies sollte sich positiv auf die Ertragssituation der Unternehmen auswirken. Wir empfehlen daher weiterhin in Aktien und BB-geratete Unternehmensanleihen zu investieren.

General information

AuthorErste Group Research
Product nameVideo German
Topic in focusEquities, FX, Macro/ Fixed income
Economy in focusEurozone, United States
Currency in focusEuro, US Dollar
Sector in focus-


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