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.