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LGT Navigator: Successful start into the US reporting season

April 15, 2019

The first quarter results of the two major US banks JPMorgan and Wells Fargo were well received on Wall Street and brought the week to a positive end. The results of the American blue chip stocks should set the tone on the stock markets again this week.

The minutes of the US Federal Reserve's last monetary policy decision on March 20 confirmed the Fed's wait-and-see attitude. There are still "significant uncertainties" in the economic outlook, and latest US inflation data will probably not put pressure on the Fed to raise key interest rates again in the near future. ECB President Mario Draghi continues to see growth risks for the euro zone and recent economic data have confirmed that the pace of growth in the euro area is slowing. Nevertheless, the likelihood of a recession remains low.

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