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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 1, 2022 7:00:00 AM | LGT Private Banking Europe House View

LGT Private Banking Europe House View – June 2022

The tightening of financing conditions is likely to cause global economic growth to cool. The big question therefore remains whether central banks will manage the delicate balancing act without triggering a recession. We are adjusting our sector allocation and realize gains in non-cyclical consumer goods and utilities. As the market environment is again opening up more potential for investment-grade corporate bonds, we upgrade the segment to "neutral".

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

LGT Private Banking Europe House View – May 2022

In the medium term we are expecting a higher risk of recession and inflation to be more “sticky” than expected. In equities, we maintain our defensive positioning and recommend focusing on quality stocks with a corresponding dividend yield. In the fixed income space, we have a preference of hybrid bonds over corporate bonds and inflation-linked bonds over government bonds.

Mar 30, 2022 7:00:00 AM | LGT Private Banking Europe House View

LGT Private Banking Europe House View – April 2022

The soaring prices on energy markets are fuelling inflation and reducing consumers' purchasing power. The major central banks are responding to the high inflation by tightening monetary policy. However, this also threatens to cool the economy. In the equity segment, we prefer the US to Europe and emerging markets in the short-term. In addition, we are taking profits in the mining sector. Meanwhile, the currencies of commodity-producing countries are lagging the rally in the commodity market and have catch-up potential.

Mar 2, 2022 7:00:00 AM | LGT Private Banking Europe House View

LGT Private Banking Europe House View – March 2022

Geopolitical risks are causing great uncertainty on global financial markets. Investors nevertheless expect a rapid cycle of interest rate hikes in the US. On the equity side, we continue to favor the mining sector and downgrade Japan to “neutral”. In addition, we are increasing our gold allocation to “overweight”.

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