Dave Chappel: Amerikaner werden Kompromiss finden

Der Threadneedle-Fondsmanager geht davon aus, dass die Schuldenobegrenze der USA Mitte Oktober angehoben wird.

01.10.2013 | 12:00 Uhr

“US politics has a habit of rearing its head just around the time when investors are beginning to believe in the economy. Last year, US growth was shaping up OK, with the prospects of deferred investment likely to finally kick in. Concerns around the Fiscal Cliff put paid to that and by the end of summer the economy stalled and almost came to a standstill in the final quarter. At the very last minute, the Cliff was diluted and, with a massive helping hand from the ever supportive Fed, everyone breathed a huge sigh of relief and forecasts got marked up once more.

And here we are again. The consensus view of a stronger second half to the year has been eroded as companies hold back hiring full time workers because the costs around Obamacare make it less economical. Now, in addition, there are concerns around the possibility of the government running out of funds. Although we believe that a short term compromise will be hammered out, (it always is), and the Democrats will get the debt ceiling lifted whilst maintain the funding for Obamacare, sentiment is likely to take another knock and the economy will no doubt feel the ripple of discontent.”

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