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4 entries

Nov 22, 2022 2:24:00 PM | LGT Beacon

LGT Beacon: Risks to growth are similar but not uniform

When investors’ sentiment is one-sidedly bearish, even modestly positive news can lead to big relief rallies. This year’s final quarter is hence shaping up as a risk-friendly one thus far. Notably, China has at last also joined the most recent global rebound. Nevertheless, a closer review of the situation shows that the outlook, while not uniform around the globe, remains challenging.

Oct 26, 2022 2:24:00 PM | LGT Beacon

LGT Beacon: Outlook remains uncertain and bifurcated

The transition from the third to the fourth quarter once again brought intense gyrations in various parts of the financial markets. While equity markets experienced unusually big intra-day swings, bond market volatility approached historic extremes. We used this volatile phase to trade the stock market and increase investment grade bonds, while maintaining our overall defensive tactical positioning. 

Mar 31, 2021 2:20:00 PM | LGT Beacon

LGT Beacon: Tactical asset allocation for Q2/2021

The reflationary macro outlook remains intact, although investors have started to worry about the interest rate outlook and its potential impact in particular on the stretched parts of the market. Against this backdrop, we refrain from adding to our equity overweight at this point. Instead, we add exposure to emerging market debt and open a long NOK position.

Feb 24, 2021 10:10:00 AM | LGT Beacon

LGT Beacon: Reflation amid signs of market excesses

Recent political events have further reaffirmed the US commitment to sustained monetary and fiscal policy largesse, which has boosted inflation and growth expectations to desirable levels. At the same time, signs of speculative excesses in some market segments and one-sidedly bullish positioning point to the risk of further occasional setbacks.