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Feb 3, 2023 7:00:00 AM | LGT Navigator

LGT Navigator: Investors bet on end of rate hiking cycle

The European Central Bank and the Bank of England have raised key interest rates as expected. However, investors are hoping for an end to the aggressive monetary policy soon. Technology stocks were once again up, also boosted by the result of stock market heavyweight Meta. But the tech euphoria could be dampened today.

Feb 2, 2023 7:00:00 AM | LGT Navigator

LGT Navigator: Fed continues to slow pace of interest rate hikes

Equity markets rallied after the US Federal Reserve increased its key interest rate by 25 basis points, a move that was widely anticipated by markets. The Fed increased the target for its benchmark rate to a range of 4.5% to 4.75% and said more tightening will be needed this year. The US central bank raised rates seven times last year, including 4 hikes of 75 basis points each in a row. In December, it then slowed the pace of rate hikes to 50 basis points.

Feb 1, 2023 7:00:00 AM | LGT Private Banking Europe House View

LGT Private Banking House View – February 2023

The main asset classes had a brilliant start to the new year, yet investors continue to hold high levels of liquidity. In the fixed income space, we consider short-duration investment grade credit strategies to be particularly attractive. We see re-rating potential for the banking sector and prefer European financials to US competitors.

Podcast: Thomas Wille, Chief Investment Officer

Feb 1, 2023 7:00:00 AM | LGT Navigator

LGT Navigator: Weak economic data boosts hopes of quick Fed turnaround

Lacklustre consumer data from the US is boosting markets Wednesday by reviving hopes that the US Federal Reserve will quickly end its aggressive monetary policy. The US Consumer Confidence Index decreased in January to 107.1 from 109.0 in December, while consumer expectations for inflation ticked up from 6.6 per cent to 6.8 per cent. The higher inflation expectations and deteriorating economic expectations pose a problem for the US central bank, which traditionally raises rates to fight inflation, but lowers them to stimulate consumer activity. Late Wednesday, the Federal Open Market Committee is set to announce its decision on interest rates.

Jan 31, 2023 7:00:00 AM | LGT Navigator

LGT Navigator: German economy shrinks ahead of ECB decision

Mixed economic data out of Europe is keeping investors and policymakers busy this week after Germany said its economy - the continent’s largest - contracted in the last quarter of 2022. Elsewhere in Europe, Irish GDP came in at a very strong growth of 3.5% quarter-on-quarter in the last quarter of the year and a leading Swiss indicator hinted things are getting less gloomy there as well. The IMF also raised its global economic growth forecast for the year. These mixed economic signals and more data to come this week, including French and euro area GDP on Tuesday, provide the backdrop for monetary policy decisions on Wednesday and Thursday from the Federal Reserve and European Central Bank.

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