Goldman Sachs AM: Market Monitor - Die Entschlossenheit der EZB könnte auf die Probe gestellt werden

Die Unklarheit über die Bedingungen, unter denen das TPI aktiviert wird, deutet darauf hin, dass die Marktteilnehmer die Entschlossenheit der EZB auf die Probe stellen könnten, insbesondere vor dem Hintergrund der größeren politischen Unsicherheit in Italien.

Einen Überblick zu diesem wie zu vielen anderen Themen, die derzeit die Kapitalmärkte bewegen, erhalten Sie im beigefügten Market Monitor von Goldman Sachs Asset Management.

Der vollständige Artikel ist zu finden unter: https://www.gsam.com/content/dam/gsam/pdfs/common/en/public/articles/global-market-monitor/2022/market_monitor_072222.pdf?sa=n&rd=n

Risk Considerations

Equity securities are more volatile than bonds and subject to greater risks. Small and mid-sized company stocks involve greater risks than those customarily associated with larger companies. Bonds are subject to interest rate, price and credit risks. Prices tend to be inversely affected by changes in interest rates. Unlike stocks and bonds, U.S. Treasuries securities are guaranteed as to payment of principal and interest if held to maturity. High yield fixed income securities are considered speculative, involve greater risk of default, and tend to be more volatile than investment grade fixed income securities. Income from municipal securities is generally free from federal taxes and state taxes for residents of the issuing state. While the interest income is tax-free, capital gains, if any, will be subject to taxes. Income for some investors may be subject to the federal Alternative Minimum Tax (AMT). Investments in foreign securities entail special risks such as currency, political, economic, and market risks. These risks are heightened in emerging markets. Investments in commodities may be affected by changes in overall market movements, commodity index volatility, changes in interest rates or factors affecting a particular industry or commodity.

The currency market affords investors a substantial degree of leverage. This leverage presents the potential for substantial profits but also entails a high degree of risk including the risk that losses may be similarly substantial. Such transactions are considered suitable only for investors who are experienced in transactions of that kind. Currency fluctuations will also affect the value of an investment.