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20 entries

May 26, 2021 7:00:00 AM | LGT Private Banking Europe House View

LGT Private Banking Europe House View – June 2021

If inflation expectations continue to rise, both equities and bonds are likely to come under pressure in the short-term. Meanwhile, the rapid economic recovery is straining global supply chains, we consider commodity stocks also in this market environment as “attractive”. On bond markets, US bond yields are likely to rise gradually into the summer, but we believe the upside potential is limited.

Apr 28, 2021 7:00:00 AM | LGT Private Banking Europe House View

LGT Private Banking Europe House View – May 2021

Financial markets have been experiencing a spring awakening for some time now, and positive economic indicators are giving rise to optimism. The focus continues to be on the monetary policy of the major central banks, first and foremost the Federal Reserve (Fed). Now, there is little doubt that the Fed will not raise interest rates in the coming months but will start to gradually reduce the additional liquidity injections (“tapering”). Against this backdrop, we focus on adequate risk compensation and prefer equities over bonds and commodities over liquidity.

Mar 31, 2021 7:00:00 AM | LGT Private Banking Europe House View

LGT Private Banking Europe House View – April 2021

The plan for a gigantic US infrastructure package and rapid vaccination successes should give a strong boost to the economic recovery in the United States. In the current market environment, we continue to favor cyclical stocks in equities, in addition we upgrade the insurance sector to “attractive”. In the bond segment, concerns about rising inflation have led to heavy losses on US government bonds.  However, we believe these fears are premature.

Feb 24, 2021 7:00:00 AM | LGT Private Banking Europe House View

LGT Private Banking Europe House View – March 2021

In view of the dual stimulus measures to contain the economic damage caused by the corona crisis, inflation concerns on capital markets have increased noticeably. As a result, the rise in commodity prices is currently at the center of market activity. However, our investment strategy remains constructive and we maintain our preference for equities over bonds. At the same time, we upgrade commodities to “attractive“ and reclassify liquidity as “neutral.“

Jan 27, 2021 7:00:00 AM | LGT Private Banking Europe House View

LGT Private Banking Europe House View – February 2021

US President Biden has started his term in office with a lot of drive. The expectations he faces are enormous, as are the challenges that lie ahead. Thus, the corona pandemic will be the first crucial test for the new administration. We maintain our positive economic outlook for 2021 and expect a strong recovery in corporate earnings. However, the extreme positioning makes equity markets vulnerable to setbacks. The road to further gains is therefore likely to be rockier.

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