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357 entries

Jun 27, 2022 7:00:00 AM | LGT Private Banking Europe House View

LGT Private Banking Europe House View – July 2022

The Federal Reserve will have to destroy demand momentum to get high inflation under control. But this also increases the risk of a recession. The credibility of central banks is crucial to mastering the interest rate turnaround and controlling tail risks. In emerging market equities, meanwhile, there are signs of an end to the downward trend and we upgrade the segment to "neutral". In the fixed income space, we continue to favor hybrid bonds.

Jun 27, 2022 7:00:00 AM | LGT Navigator

LGT Navigator: Recovery rally on the stock markets driven by hopes

On Wall Street, a more optimistic view of things ensured a solid end to the week. Against the backdrop of record low consumer sentiment in the US, the Federal Reserve could be somewhat more cautious in its course of interest rate hikes so as not to risk a recession, according to the assumption of many market participants. In principle, however, fears of recession are likely to remain a dominant factor in stock market sentiment and the recent recovery could well turn out to be a bear market rally. As expected, the G7 summit focused on the Ukraine war and the conflict with Russia. However, a USD 600 billion infrastructure project attracted attention. 

Jun 24, 2022 7:00:00 AM | LGT Navigator

LGT Navigator: Economic worries keep investors on tenterhooks

Worse than expected business survey results intensified the already increased fears of recession on financial markets. The mood on the capital markets remains tense and the outlook for the global economy appears highly fragile due to continued strong inflationary pressures, the corresponding response of central banks, and ongoing problems in global supply chains as well as geopolitical uncertainties. At least in the short-term, however, investors seem to be able to free themselves somewhat from pessimism, leading to higher prices on stock markets and a falling yield on US government bonds. 

Jun 23, 2022 7:00:00 AM | LGT Navigator

LGT Navigator: Powell reaffirms commitment to inflation fight and dampens recession fears

Federal Reserve Chairman Powell stressed that the US economy is robust and can certainly withstand tighter monetary policy. However, he said the Fed would continue to fight high inflation and raise interest rates further. Fears of monetary policy overshooting and a subsequent global recession remain palpable in the capital markets. The focus of economic and geopolitical attention now turns to the summit of EU heads of state and government and the G7 summit on Sunday.

Jun 22, 2022 11:59:00 AM | LGT Beacon

LGT Beacon: Past monetary largesse and current geopolitics point toward stagflation

We concluded our quarterly strategy review last week, just as market volatility had spiked ahead of a number of major central bank policy meetings. Within days, these meetings confirmed that global monetary tightening is set to continue at more rigorous pace. Economic growth is likely to slow further in the coming months. Against this background, we decided to remain positioned on the defensive side.

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