{"id":5318,"date":"2022-03-20T16:06:27","date_gmt":"2022-03-20T15:06:27","guid":{"rendered":"https:\/\/corefinanz.d4dcloud.com\/turbulenzen-an-der-bond-und-aktienmaerkten\/"},"modified":"2022-08-09T20:45:10","modified_gmt":"2022-08-09T18:45:10","slug":"turbulenzen-an-der-bond-und-aktienmaerkten","status":"publish","type":"post","link":"https:\/\/www.corefinanz.ch\/en\/turbulenzen-an-der-bond-und-aktienmaerkten\/","title":{"rendered":"TURBULENCE ON THE BOND AND STOCK MARKETS"},"content":{"rendered":"

Am Mittwochabend hat die Fed einen weiteren Zinsschritt von 0.50% beschlossen. Der Federal Fund Rate liegt per 06.05.2022 bei 0.83%. Die Rede von Jerome Powell, welche er jeweils kurz nach der Publikation von Entscheiden h\u00e4lt, liess die Aktienm\u00e4rkte am selben Abend vorr\u00fccken. Am gestrigen Tag (05.05.2022) rasselten vor allem der NASDAQ mit einem Minus von knapp 5% und der Dow Jones mit einem Minus von \u00fcber 3% in den Keller. Die M\u00e4rkte realisieren langsam die Zeitwende.<\/p>\n

R\u00fcckblickend auf die letzten 12 Monate erzielte der NASDAQ ein Minus von 21%, der Dow Jones ein Minus von 13%, Euro Stoxx 50 notiert 15% tiefer und der SMI 8.50%. An den Aktienm\u00e4rkten verlief es f\u00fcr die Marktteilnehmer nicht sehr erfreulich. Eine \u00dcbersicht bildet die untenstehende Tabelle, welche die Rendite seit Jahresstart zeigt.<\/p>\n

 <\/p>\n\n\n\n\n\n\n\n\n\n\n\n
Stock index<\/th>\nValue as of 05.05.2022<\/th>\n%Ytd<\/strong><\/th>\n<\/tr>\n<\/thead>\n
DOW JONES<\/td>\n32997.97<\/td>\n-9.19%<\/td>\n<\/tr>\n
S&P 500<\/td>\n4146.87<\/td>\n-12.99%<\/td>\n<\/tr>\n
NASDAQ<\/td>\n12317.69<\/td>\n-21.27%<\/td>\n<\/tr>\n
EURO STOXX 50<\/td>\n3696.63<\/td>\n-14.00%<\/td>\n<\/tr>\n
DAX<\/td>\n13902.52<\/td>\n-12.48%<\/td>\n<\/tr>\n
FTSE MIB<\/td>\n23759.71<\/td>\n-13.12%<\/td>\n<\/tr>\n
SWISS MKT<\/td>\n11877.27<\/td>\n-7.75%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

In addition to the rising interest rate environment, the far-reaching lockdowns in China and the war in Ukraine are creating further unfavorable conditions for the markets.<\/p>\n

Rising interest rates are also leading to rising yields on the bond markets. Yields on 10-year government bonds reached new highs this week. In the USA one receives for the 10-year Treasury bond at present approx. 3% interest, for the 10-year Eidgenoss still 0.84%. 12 months ago, the yields were at 1.71%, respectively – 0.462%. Within one year, interest rates have risen by 1.89% in the USA and 1.30% in Switzerland. The table below shows the increase in yields for 10-year government bonds in the respective countries over the last 12 months:<\/p>\n

 <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Country<\/th>\nInterest rate current 10y<\/th>\nInterest 12 months ago<\/th>\n\u0394<\/strong><\/th>\n<\/tr>\n<\/thead>\n
United States<\/td>\n3.057%<\/td>\n1.172%<\/td>\n1.89%<\/td>\n<\/tr>\n
United Kingdom<\/td>\n1.961%<\/td>\n0.510%<\/td>\n1.45%<\/td>\n<\/tr>\n
France<\/td>\n1.569%<\/td>\n-0.162%<\/td>\n1.73%<\/td>\n<\/tr>\n
Germany<\/td>\n1.041%<\/td>\n-0.503%<\/td>\n1.54%<\/td>\n<\/tr>\n
Italy<\/td>\n3.036%<\/td>\n0.528%<\/td>\n2.51%<\/td>\n<\/tr>\n
Spain<\/td>\n2.142%<\/td>\n0.203%<\/td>\n1.94%<\/td>\n<\/tr>\n
Netherlands<\/td>\n1.320%<\/td>\n-0.385%<\/td>\n1.71%<\/td>\n<\/tr>\n
Switzerland<\/td>\n0.839%<\/td>\n-0.462%<\/td>\n1.30%<\/td>\n<\/tr>\n
Japan<\/td>\n0.220%<\/td>\n-0.004%<\/td>\n0.22%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

The rising interest rates have consequences for bond portfolios, which are traditionally held by market participants who want to avoid high market fluctuations. Looking at the Swiss Bond Index SBI from 03.01.2022 to 03.05.2022, we see a loss of 8.22%. That bonds are resistant to fluctuations in value cannot be confirmed for this short observation period.<\/p>\n

In various discussions with clients and appraisers, despite the turnaround in interest rates, we come to the conclusion that the values of the properties should remain stable over the next few years. For example, market participants assume that capitalization rates will remain stable in the short term despite the rising interest rate environment and that demand for real estate will remain high. As a result, yields on investment properties are likely to remain low. However, anyone buying new properties today should be aware that there could be a decline in value in the future. An exact calculation of the risk\/return profile is therefore highly recommended for the property and the associated financing.<\/p>\n","protected":false},"excerpt":{"rendered":"

Am Mittwochabend hat die Fed einen weiteren Zinsschritt von 0.50% beschlossen. Der Federal Fund Rate liegt per 06.05.2022 bei 0.83%. Die Rede von Jerome Powell, welche er jeweils kurz nach der Publikation von Entscheiden h\u00e4lt, liess die Aktienm\u00e4rkte am selben Abend vorr\u00fccken. Am gestrigen Tag (05.05.2022) rasselten vor allem der NASDAQ mit einem Minus von […]<\/p>\n","protected":false},"author":1,"featured_media":6366,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_seopress_titles_title":"Turbulenzen an der Bond- und Aktienm\u00e4rkten","_seopress_titles_desc":"Die Fed einen weiteren Zinsschritt von 0.50% beschlossen. Der Federal Fund Rate liegt per 06.05.2022 bei 0.83%.","_seopress_robots_index":"","_seopress_robots_follow":"","_seopress_robots_imageindex":"","_seopress_robots_snippet":"","_seopress_robots_primary_cat":"none","_seopress_robots_breadcrumbs":"","_seopress_robots_freeze_modified_date":"","_seopress_robots_custom_modified_date":"","_seopress_robots_canonical":"","_seopress_social_fb_title":"","_seopress_social_fb_desc":"","_seopress_social_fb_img":"","_seopress_social_fb_img_attachment_id":0,"_seopress_social_fb_img_width":0,"_seopress_social_fb_img_height":0,"_seopress_social_twitter_title":"","_seopress_social_twitter_desc":"","_seopress_social_twitter_img":"","_seopress_social_twitter_img_attachment_id":0,"_seopress_social_twitter_img_width":0,"_seopress_social_twitter_img_height":0,"_seopress_redirections_value":"","_seopress_redirections_enabled":"","_seopress_redirections_enabled_regex":"","_seopress_redirections_logged_status":"both","_seopress_redirections_param":"","_seopress_redirections_type":301,"_seopress_analysis_target_kw":"","footnotes":""},"categories":[7],"tags":[],"class_list":["post-5318","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.corefinanz.ch\/en\/wp-json\/wp\/v2\/posts\/5318","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.corefinanz.ch\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.corefinanz.ch\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.corefinanz.ch\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.corefinanz.ch\/en\/wp-json\/wp\/v2\/comments?post=5318"}],"version-history":[{"count":0,"href":"https:\/\/www.corefinanz.ch\/en\/wp-json\/wp\/v2\/posts\/5318\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.corefinanz.ch\/en\/wp-json\/wp\/v2\/media\/6366"}],"wp:attachment":[{"href":"https:\/\/www.corefinanz.ch\/en\/wp-json\/wp\/v2\/media?parent=5318"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.corefinanz.ch\/en\/wp-json\/wp\/v2\/categories?post=5318"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.corefinanz.ch\/en\/wp-json\/wp\/v2\/tags?post=5318"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}