Sep 20, 2018 8:43 AM | Daily Market News
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.