Fonds-Blog-SJB: Mehr. Als Fonds. Kaufen. Von Gerd Bennewirtz.

Bei der FondsAuswahl zählt die Unabhängigkeit vom Anbieter!FondsAnbieter-GAM: The economic picture in the US is looking more encouraging than in many other parts of the world. Hence, our conviction has increased materially on the US dollar, as there has been an improvement in a number of drivers of the currency. Over the last few years, a lot of balance sheet repair has taken place as consumers have been retrenching. Debt servicing ratios as a proportion of disposal income have come down and are now at comfortable levels, leaving the consumer in much better shape. Productivity growth in the US also looks encouraging. In addition, we are seeing real wage growth, which should be supportive. In the background, there is also the US energy story, which should not be underestimated. Just 10 years ago, the US economy was consuming around 30% more energy than it produced; that has now come down to 16% and is expected to narrow further.

SJB. Fonds. Logo.…weiterlesen

Kategorien: Anbieter. Berichten.
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Bei der FondsAuswahl zählt die Unabhängigkeit vom Anbieter!FondsAnbieter-GAM: Looking at the market backdrop, European companies have seen persistent earnings downgrades by analysts for several years now. Initial growth forecasts at the beginning of each year have been buoyant at 10–12%, but these have subsequently not materialised. For this year, expectations have now dropped to just 1% earnings growth. With economic data in China and peripheral Europe improving, we would expect this trend of downgrades for this year to come to an end. For 2014, growth expectations are currently at 10%, for which, in order to be achievable, we would need to see a material pick-up in economic activity. SJB. Fonds. Logo.…weiterlesen

Kategorien: Anbieter. Berichten.
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