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Dec 14, 2018 8:38:38 AM | LGT Navigator

LGT Navigator: ECB: Risk balance tending slowly downwards

The European Central Bank (ECB) left its key interest rates unchanged and, despite a gloomy economic outlook, formally decided to end its bond purchases at the end of the year. In view of the weaker global economy, the ECB again revised its growth forecasts for the euro zone downwards. According to ECB President Mario Draghi, the risks to the growth outlook are still balanced, but the risk balance is slowly falling.

The ECB's cautious bias toward an interest rate turnaround, despite the announcement to end its billion-dollar bond purchase program probably at the end of this year, weakened the euro significantly. The ECB maintained its key interest rate at a record low and remained extremely cautious in its communication. At the same time, the Bank of Japan also left its key interest rates unchanged and even lowered its inflation expectations.
The capital markets were all relaxed about the thoroughly trend-setting results of the US parliamentary elections, and most stock exchanges recorded some significant gains thanks to the uncertainty that has now been removed. Although US President Donald Trump's position of power has thus been weakened, this should not immediately mean a real change of direction in previous policy, especially with regard to the trade conflict, which is important for the financial markets.

Dec 13, 2018 3:08:05 PM | LGT Beacon

LGT Beacon: Tactical asset allocation for Q1/2019

The occasional surges in interest rate angst and the US-Chinese trade dispute are weighing on markets, even as most economies continue to grow at a decent pace and the US Federal Reserve is softening its tightening talk. We do see room for a rebound in risk appetite in the near term, but adopt a neutral overall stance on risky assets for now.

Dec 13, 2018 8:46:32 AM | LGT Navigator

LGT Navigator: Positive news flow

Relieving news, such as the survived Brexit vote of no confidence against British Prime Minister Theresa May (more in our currency comment today), exploratory talks between the USA and China in the trade conflict, or Italy's government, which after weeks of dispute with the EU Commission over its draft budget now seems prepared to make concessions.

The ECB's cautious bias toward an interest rate turnaround, despite the announcement to end its billion-dollar bond purchase program probably at the end of this year, weakened the euro significantly. The ECB maintained its key interest rate at a record low and remained extremely cautious in its communication. At the same time, the Bank of Japan also left its key interest rates unchanged and even lowered its inflation expectations.
The capital markets were all relaxed about the thoroughly trend-setting results of the US parliamentary elections, and most stock exchanges recorded some significant gains thanks to the uncertainty that has now been removed. Although US President Donald Trump's position of power has thus been weakened, this should not immediately mean a real change of direction in previous policy, especially with regard to the trade conflict, which is important for the financial markets.

Dec 12, 2018 8:38:04 AM | LGT Navigator

LGT Navigator: Stocks recover on US-China trade optimism

The turbulence in stock markets eased somewhat towards the middle of the week. Investors are hoping for some relief in the trade conflict between China and the US. Beijing has moved in the direction of lowering tariffs on imported cars from the US, Bloomberg reported, after US President Donald Trump had already raised expectations of falling tariffs at the beginning of December. A proposal to reduce tariffs on American cars from the current 40% to 15% will be considered by the Chinese government in the coming days. The release of Huawei CFO Meng Wanzhou on bail in Canada also brought relief.

The ECB's cautious bias toward an interest rate turnaround, despite the announcement to end its billion-dollar bond purchase program probably at the end of this year, weakened the euro significantly. The ECB maintained its key interest rate at a record low and remained extremely cautious in its communication. At the same time, the Bank of Japan also left its key interest rates unchanged and even lowered its inflation expectations.
The capital markets were all relaxed about the thoroughly trend-setting results of the US parliamentary elections, and most stock exchanges recorded some significant gains thanks to the uncertainty that has now been removed. Although US President Donald Trump's position of power has thus been weakened, this should not immediately mean a real change of direction in previous policy, especially with regard to the trade conflict, which is important for the financial markets.

Dec 12, 2018 8:00:00 AM | LGT Motorsport News

Season opening

The next round of the Formula E will start in the second week of December. A draw featuring great prizes will be held to kick off the season.

LGT Young Soloists at the Festival of South Tyrol in Merano

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