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37 entries

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

LGT Private Banking Europe House View – December 2022

The growth-inflation mix and restrictive monetary policy remain the most important headwinds for risk assets. In our fixed-income strategy, we again see return potential in corporate bonds and rate them attractive. In equities, we remain defensive and are now favoring banks at sector level, raising our rating to attractive.

Oct 26, 2022 7:00:00 AM | LGT Private Banking Europe House View

LGT Private Banking Europe House View – November 2022

We are already in the final quarter of 2022 and a very difficult investment year is slowly but surely coming to an end. From a portfolio perspective 2022 can be described as an outlier year on a statistical basis in recent decades.

Sep 28, 2022 7:00:00 AM | LGT Private Banking Europe House View

LGT Private Banking Europe House View – October 2022

In order to curb inflation, central banks are tightening the interest rate screw further and are accepting the risk of a recession. Due to the increased risk of a global economic downturn, we classify high-yield as unattractive in our fixed-income strategy. Regarding stocks, the upcoming reporting season should provide information on how strong the decline in earnings will be in the coming quarters. At sector level, our preference remains for pharma and telecoms over technology and consumer cyclicals.

Aug 31, 2022 7:00:00 AM | LGT Private Banking Europe House View

LGT Private Banking Europe House View – September 2022

Record high inflation remains the determining factor on global capital markets and is causing a tug-of-war between “bulls” and “bears”. We are withdrawing our preference for US equities, but in relative terms still prefer US equities to European stocks. From an asset allocation perspective, the current risk-return ratio argues against an increase in the equity allocation.

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

LGT Private Banking Europe House View – August 2022

Major central banks are tightening their interest rates screw and the economic outlook gets increasingly gloomy. The time has come to upgrade our cross-asset rating for the fixed income space to “neutral”. We downgrade inflation protected bonds down to “unattractive”, and upgrade government bonds and duration to “neutral”.

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