Nov 8, 2018
LGT designated best private bank for alternative investments
LGT was the first bank to receive the “Best Private Bank for Alternatives” award at the renowned Financial Times Group’s PWM (Professional Wealth Management)/The Banker Global Private Banking Awards. It was also awarded “Best Private Bank for Growth Strategy” for the third consecutive year.
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Nov 16, 2018
LGT Beacon: Big selloffs and midterm elections bode well for a rebound
Fear of further increases in US interest rates and some other looming anxieties culminated in a major equity selloff early this month. However, the broader markets' signals were more constructive: yield curves steepened, breakeven rates ticked up, credit spreads narrowed, and emerging markets assets stabilized; so we decided to buy the dip in equities.
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Nov 16, 2018
LGT Navigator: Government crisis in London
British Prime Minister Theresa May plunged herself into a new crisis with the agreement on a Brexit draft in the immediate resignations of various members of the government. May's final Brexit draft must be approved by the British and European parliaments. The biggest point of contention in the Brexit negotiations is the question of the border between Ireland and Northern Ireland, which would be an external border of the EU if the United Kingdom were to withdraw. It remains to be seen whether the draft treaty will even win a majority in the British Parliament.
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.
The capital markets were all relaxed about the thoroughly trend-setting results of the US parliamentary elections, and most stock exchanges recorded some significant gains thanks to the uncertainty that has now been removed. Although US President Donald Trump's position of power has thus been weakened, this should not immediately mean a real change of direction in previous policy, especially with regard to the trade conflict, which is important for the financial markets.
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Nov 15, 2018
LGT Navigator: Brexit negotiations on the verge of breakthrough
British Prime Minister Theresa May was given the go-ahead by the Cabinet for the EU withdrawal treaty, which has been promoted by the EU. However, the head of government will have great difficulty finding a majority in parliament for the deal, which will have to ratify the treaty at a later date. EU head negotiator Michel Barnier said that decisive progress had been made. However, the chances for an orderly Brexit have clearly increased and the EU is expected to convene a special summit on 25 November.
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.
The capital markets were all relaxed about the thoroughly trend-setting results of the US parliamentary elections, and most stock exchanges recorded some significant gains thanks to the uncertainty that has now been removed. Although US President Donald Trump's position of power has thus been weakened, this should not immediately mean a real change of direction in previous policy, especially with regard to the trade conflict, which is important for the financial markets.
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Nov 14, 2018
LGT Navigator: Investors remain on the defensive
Wall Street made up some ground after the recent sell-off in technology stocks. Some optimism was expressed between the US and China regarding the trade conflict. In the Italian budget crisis, Deputy Prime Minister Matteo Salvini declared shortly before the expiry of the EU deadline for submitting budget amendments that he would not deviate from the plan for a new debt of 2.4% in 2019. Stock market sentiment is likely to be depressed overall and the majority of investors will remain on the defensive.
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.
The capital markets were all relaxed about the thoroughly trend-setting results of the US parliamentary elections, and most stock exchanges recorded some significant gains thanks to the uncertainty that has now been removed. Although US President Donald Trump's position of power has thus been weakened, this should not immediately mean a real change of direction in previous policy, especially with regard to the trade conflict, which is important for the financial markets.
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