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Dec 9, 2022 7:00:00 AM | LGT Navigator

LGT Navigator: Fed interest rate decision casts shadows ahead – US producer prices in focus

The attention of capital markets is already focused on the Federal Open Market Committee’s (FOMC) last meeting of this year, next Wednesday. The big question is whether the balance of still-high inflation and the risk of a growth slump will allow the Fed to slow the pace of monetary policy tightening. Another indication of inflation trends in the United States is likely to come from this afternoon's producer prices, which always run ahead of consumer prices.

Dec 8, 2022 7:00:00 AM | LGT Navigator

LGT Navigator: Is Canada's central bank setting a (good) example?

While interest rate policy remains at the center of market activity, latest data from the US on wage developments in the summer provided some relief. The rise in unit labor costs weakened noticeably in the third quarter, which can be taken as an indication of lower inflationary pressure and could make the US central bank somewhat less hakish at the last monetary policy meeting of the year next Wednesday. Meanwhile, Canada's central bank tightened its key interest rate by “just” 50 basis points, while holding out the prospect of a pause or even an end to rate hikes.

Dec 7, 2022 7:00:00 AM | LGT Navigator

LGT Navigator: Ongoing interest rate worries weigh, while easing in China provides relief

The prospect of a further sharp increase in key interest rates in the US against the backdrop of stronger-than-expected economic data caused continued pressure on Wall Street, especially on interest rate-sensitive technology stocks. In Asia, however, stock markets benefited from China's announcement of further partial easing of its strict zero-covid measures.

Dec 6, 2022 7:00:00 AM | LGT Navigator

LGT Navigator: Positive economic data reinforce interest rate concerns

Better-than-expected economic indicators from the US and Europe reinforced the assumption that central banks might have little scope for a more moderate monetary policy in the fight against persistently strong inflationary pressures. The question remains whether the Federal Reserve will slow the pace of its rate hikes ready for next week's meeting or not. Meanwhile, Australia's central bank raised its key interest rate by a further 25 basis points to 3.1%. 

Dec 5, 2022 7:00:00 AM | LGT Navigator

LGT Navigator: Strong US jobs market dashes hopes of more moderate interest rate steps

Continued robust employment growth in the United States and rising wages have diminished hopes previously nurtured by Federal Reserve Chairman Powell of a more moderate course of interest rate hikes. The Fed may thus be forced to pre-empt renewed stronger inflation with another “jumbo” rate move before the year end. While on Wall Street the prospect of further hefty interest rate hikes put pressure on stocks, hopes of easing China's corona policy set positive accents on Asia's equity markets. 

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