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Sep 25, 2018

LGT Navigator: German economy is cooling down

The mood on the German executive floors has deteriorated slightly, but less than expected. The widely noticed business climate survey of the Munichbased Ifo Institute fell to 103.7 points in September from 103.9 points in the previous month. The drop is mainly attributable to declined manufacturing confidence, also being an industry that is highly dependent on exports and suffering from the current trade tensions.

The ECB's cautious bias toward an interest rate turnaround, despite the announcement to end its billion-dollar bond purchase program probably at the end of this year, weakened the euro significantly. The ECB maintained its key interest rate at a record low and remained extremely cautious in its communication. At the same time, the Bank of Japan also left its key interest rates unchanged and even lowered its inflation expectations.

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Sep 24, 2018

LGT Navigator: Record run on Wall Street creates momentum

Asian stock exchanges opened mixed driven by a record streak in New York but dampened by a next batch of tariffs in the trade war. A positive sentiment factor are the preliminary US purchasing managers' indices, generally signaling continued relatively solid economic growth, with the US economy leaving an even stronger impression. The PMI for the US private sector rose from 54.7 to 55.6 points in September, while the PMI (composite) for the euro zone fell by -0.3 to 54.2 points.

The ECB's cautious bias toward an interest rate turnaround, despite the announcement to end its billion-dollar bond purchase program probably at the end of this year, weakened the euro significantly. The ECB maintained its key interest rate at a record low and remained extremely cautious in its communication. At the same time, the Bank of Japan also left its key interest rates unchanged and even lowered its inflation expectations.

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Sep 21, 2018

LGT Navigator: Wall Street remains in record mood

On Wall Street, the Dow Jones and the S&P 500 reached new highs as concerns about trading tensions eased. In Asia, the markets at the end of the week followed the positive signals from Europe and the US. Previously, the latest US economic data left a mixed picture.

The ECB's cautious bias toward an interest rate turnaround, despite the announcement to end its billion-dollar bond purchase program probably at the end of this year, weakened the euro significantly. The ECB maintained its key interest rate at a record low and remained extremely cautious in its communication. At the same time, the Bank of Japan also left its key interest rates unchanged and even lowered its inflation expectations.

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Sep 20, 2018

LGT Navigator: Tariff concerns set aside

While no clear trend was evident on Asian stock markets today, Wall Street saw bank stocks rise sharply. JPMorgan and Goldman Sachs, for example, gained almost three percent. On the other hand, technology stocks were under pressure. In addition to the back and forth in the trade conflict between the US and China, investors in Europe are also focusing on the meeting of EU heads of state and government where, among other things, the Brexit is a hot topic.

The ECB's cautious bias toward an interest rate turnaround, despite the announcement to end its billion-dollar bond purchase program probably at the end of this year, weakened the euro significantly. The ECB maintained its key interest rate at a record low and remained extremely cautious in its communication. At the same time, the Bank of Japan also left its key interest rates unchanged and even lowered its inflation expectations.

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Sep 19, 2018

LGT Navigator: Investors react calmly to renewed escalation

The reaction from Beijing regarding the renewed escalation of the trade dispute between the USA and China was not long in coming. China will take retaliatory measures at the same time as the new US tariffs. However, investors now seem familiar with the risk and the trade conflict, at least the one between the US and China seems to be priced in to a certain extent.

The ECB's cautious bias toward an interest rate turnaround, despite the announcement to end its billion-dollar bond purchase program probably at the end of this year, weakened the euro significantly. The ECB maintained its key interest rate at a record low and remained extremely cautious in its communication. At the same time, the Bank of Japan also left its key interest rates unchanged and even lowered its inflation expectations.

Read more

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