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2021/06/11 / Erste Group Research

US-Inflation steigt und steigt – Märkte bleiben ruhig

Die Mai-Inflationsdaten für die USA wiesen wie im April einen Wert aus, der deutlich über den Erwartungen der Märkte lag. Trotzdem die Inflationsrate nicht nur hoch ausfiel, sondern sogar auch höher als erwartet, reagierten die Anleihenmärkte nicht. Wir glauben trotzdem nicht, dass die US-Renditen auf den derzeitigen Niveaus während der kommenden Monate verharren werden.

Kommende Woche wird die US-Fed über die Geldpolitik entscheiden. Eigentlich kann das entscheidende Gremium FOMC gar nicht anders, als weiterhin eine abwartende Haltung einnehmen. Die jüngsten Daten haben keine deutlichen Fortschritte in Richtung der geldpolitischen Ziele gezeigt, was als Voraussetzung für eine Verringerung der monatlichen Wertpapierkäufe (Tapering) vom FOMC festgelegt wurde.

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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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