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26 entries

Jan 5, 2022 7:00:00 AM | LGT Private Banking Europe House View

LGT Private Banking Europe House View – January 2022

Due to declining liquidity supply, the focus is shifting to fundamentals and corporate earnings reports. Within equities, we identify catch-up potential in the consumer staples sector and in European insurance companies. In the bond universe, we continue to favor less rate-sensitive segments such as corporate and financial hybrids.

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

LGT Private Banking Europe House View – November 2021

High inflation figures and the shift in the US monetary policy are causing uncertainty. Historically, however, the coming months are considered to be particularly promising for stock markets. We expect the positive seasonality to play out also this time. European bank stocks have rallied since last year. Nevertheless, it is still too early for profit-taking. Meanwhile, the real estate crisis in China has led to a sell-off in Asian high yield bonds. This opens up new investment opportunities in this segment.

Sep 29, 2021 7:00:00 AM | LGT Private Banking Europe House View

LGT Private Banking Europe House View – October 2021

The path for capital markets gets rockier with the announced Fed tapering and risk factors like China and worries surrounding the Chinese real estate group “Evergrande” becoming a challenge.  In the equity segment, we take profits in Europa and the UK, and in bonds, selection remains decisive in all categories.

Sep 1, 2021 7:00:00 AM | LGT Private Banking Europe House View

LGT Private Banking Europe House View – September 2021

The doves remain at the helm at the Fed, as Chairman Powell reiterated the Fed's patient stance in face of rising corona risks at the Jackson Hole symposium. At the asset allocation level, our two key convictions remain unchanged. We prefer equity investments to bonds and expect commodities to yield a better return than liquidity. In equities, we recommend realizing some of the gains in the durable goods sector, e.g. in luxury goods stocks. In the fixed income space, we adjust our assessment in corporate and high yield bonds, increasing our quality ratio.

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

LGT Private Banking Europe House View – August 2021

Investors should expect increased volatility in the coming months, but growth prospects remain intact. European utilities offer catch-up potential and we therefore upgrade the sector to “attractive. On the other hand, we reduce emerging market equities to “neutral” following the recent price losses in Chinese equities. In addition, we advise buying gold during periods of weakness and expect oil prices to rise by the end of the year.

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