Märkte Insight: „Go big, or go home“: Die US-Wirtschaft wird immer abhängiger von der Wall Street
Vermögen, Konsum und Finanzierung des US-Außenhandelsdefizits hängen immer stärker vom Aktienmarkt ab. Ein Rücksetzer könnte die USA in mehrfacher Hinsicht treffen, meint Jakob Blume.
The United States economy increasingly relies on Wall Street, echoing the American adage "Go big, or go home," according to a new Commerzbank analysis. The nation's high trade deficit, which means spending more on foreign goods and services than exporting, is financed by an influx of foreign capital. In the second quarter alone, the U.S. imported $246 billion more in goods and services than it exported.
Foreign investments in U.S. bonds funded this trade deficit for nearly the entire period from 2020 to mid-2024. However, foreign capital inflows into U.S. stocks have become a more significant source of financing for the deficit in recent times, with twice as much foreign capital flowing into U.S. stocks compared to bonds in the last quarter.
This trend is concerning for the US economy, as a downturn in stock markets could negatively impact the economy, private consumption, and the US dollar, based on Commerzbank analyst Volkmar Baur's warning.
Written by urgent.news from Handelsblatt's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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