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Feb 1, 2023 7:00:00 AM | LGT Private Banking Europe House View

LGT Private Banking House View – February 2023

The main asset classes had a brilliant start to the new year, yet investors continue to hold high levels of liquidity. In the fixed income space, we consider short-duration investment grade credit strategies to be particularly attractive. We see re-rating potential for the banking sector and prefer European financials to US competitors.

Podcast: Thomas Wille, Chief Investment Officer

Feb 1, 2023 7:00:00 AM | LGT Navigator

LGT Navigator: Weak economic data boosts hopes of quick Fed turnaround

Lacklustre consumer data from the US is boosting markets Wednesday by reviving hopes that the US Federal Reserve will quickly end its aggressive monetary policy. The US Consumer Confidence Index decreased in January to 107.1 from 109.0 in December, while consumer expectations for inflation ticked up from 6.6 per cent to 6.8 per cent. The higher inflation expectations and deteriorating economic expectations pose a problem for the US central bank, which traditionally raises rates to fight inflation, but lowers them to stimulate consumer activity. Late Wednesday, the Federal Open Market Committee is set to announce its decision on interest rates.

Jan 31, 2023 7:00:00 AM | LGT Navigator

LGT Navigator: German economy shrinks ahead of ECB decision

Mixed economic data out of Europe is keeping investors and policymakers busy this week after Germany said its economy - the continent’s largest - contracted in the last quarter of 2022. Elsewhere in Europe, Irish GDP came in at a very strong growth of 3.5% quarter-on-quarter in the last quarter of the year and a leading Swiss indicator hinted things are getting less gloomy there as well. The IMF also raised its global economic growth forecast for the year. These mixed economic signals and more data to come this week, including French and euro area GDP on Tuesday, provide the backdrop for monetary policy decisions on Wednesday and Thursday from the Federal Reserve and European Central Bank.

Jan 30, 2023 7:00:00 AM | LGT Navigator

LGT Navigator: Markets prepare for major central bank decisions

Equity markets ended last week slightly higher following a series of economic data on Friday that show inflationary pressures easing in the US. The data should give policymakers at major central banks more leeway in their monetary policy decisions due later in the week. The Federal Reserve and European Central Bank announce interest rate decisions on Wednesday and Thursday, respectively. Both banks slowed the rate of interest rate increases at their previous policy meetings in December but have since been clear that they believe there is still much to do to tame inflation.

Jan 27, 2023 7:00:00 AM | LGT Navigator

LGT Navigator: Economic optimism and Tesla's quarterly figures provide a tailwind

Strong figures on economic growth in the US caused cautious optimism, but also increases the chance that the Federal Reserve could remain on a restrictive course for longer. The focus is now on the Fed's next interest rate decision next Wednesday. The stock markets were also boosted by a positively received quarterly report from the electric car manufacturer Tesla. Meanwhile, in Japan, a sharp rise in core inflation in the capital Tokyo caused a stir, putting pressure on the Bank of Japan to act soon.

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