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On behalf of everyone at LGT, I’d like to wish all of our clients and friends of the firm a very happy new year and prosperous 2025! Against the backdrop of a volatile macroeconomic landscape, the year also marked a period of significant progress across key areas of the business.

Gilts have been weak since the Labour government’s budget in October, although broadly tracked US Treasury movements. But this week, we witnessed sharp moves, with yields on ten-year gilts surpassing 4.8% for the first time in 17 years, and 30-year gilt yields exceeding 5.35% for the first time in 27 years.

2024 saw US economic growth gather steam as the Federal Reserve orchestrated a soft landing, creating an environment where earnings and corporate confidence supported equities and credit markets. Learn more about last quarter's activities in the global market.

At LGT, giving back is a key part of our philosophy. As a growing business in the wealth management sector, we believe it is our responsibility to use our resources to make a positive social impact within the wider community and support causes that are helping to tackle important issues.

Navigating the intricacies of retirement planning, particularly for those with connections to both the US and UK, demands a nuanced understanding of the differences in pension structures and tax implications between the two countries. It is essential to recognise key characteristics, plan types, and financial strategies to optimise retirement savings and income.

Central banks were active this week, as both the Federal Reserve and Bank of England held their final meetings of the year, setting the stage for what is sure to be a very interesting 2025.

At LGT, giving back is a key part of our philosophy. As a growing business in the wealth management sector, we believe it is our responsibility to use our resources to make a positive social impact within the wider community and support causes that are helping to tackle important issues.

In November, the US elected Donald Trump as their 47th President, but what impact could this result have on markets? Looking more broadly across the rest of the world, geopolitical events and inflation continue to create uncertainty as we approach the end of the year.

2024 has undeniably been another momentous year for US equities, with returns dominated by the strong performance of technology stocks. We look back on the year from both an investment perspective and through the lens of the issues and developments that have both impacted and will impact our clients in the future.

With the end of the year fast approaching, the importance of US year-end tax planning becomes increasingly evident. By taking a proactive approach to assessing your financial situation, you can safeguard your wealth and minimise tax liabilities.