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European Central Bank expected to cut eurozone interest rates today after inflation falls
European Central Bank expected to cut eurozone interest rates today after inflation falls

The Guardian

time3 days ago

  • Business
  • The Guardian

European Central Bank expected to cut eurozone interest rates today after inflation falls

Update: Date: Title: Introduction: ECB expected to cut interest rates today Content: Good morning, and welcome to our rolling coverage of business, the financial markets and the world economy. Interest rates across the eurozone are likely to be cut today, as the European Central Bank attempts to support the euro economy as it reels from the damage caused by Donald Trump's trade wars. The ECB is widely expected to cut its key interest rates by a quarter of one percentage point. That would lower its deposit facility rate to 2%, and would be the eighth cut in a year. A cut looks nailed on, after inflation across the eurozone fell to 1.9% last month, below the ECB's 2% target for the first time since last September. Markets are pricing almost a 100% probability of a quarter-point cut, reports Ronald Temple, chief market strategist at Lazard Asset Management, adding: With ongoing declines in inflation and consistently dovish language from ECB members, a rate cut appears to be a done deal. The ECB has previously described 1.75%–2.25% as the range that would be considered neutral monetary policy. Any signals of a change in this view would be surprising. I continue to expect rates to be reduced to 1.5% by year end given a more aggressive US trade posture against the European Union. Markets suggest a slightly less dovish outlook with rates ending the year just below 1.6%.' Today, investors will also be interested to hear the ECB's latest forecasts – economists expect cuts to its growth and inflation projections for next year. The ECB may also signal that it could pause its rate cutting cycle over the summer, before reassessing the situation in September. Christine Lagarde can also expect questions about her claim last month that the euro could take on a more global role, as the dollar loses influence amid the current trade turmoil. Lagarde's future could also come up, following claims that she has discussed cutting short her term as European Central Bank president to become chair of the World Economic Forum. 7am: German factory orders for April 9am BST: UK new car sales report for May 9.30am BST: UK construction PMI report 1.15pm BST: European Central Bank interest rate decision 1.30pm BST: US trade data for April 1.30pm BST: US weekly jobless claims data 1.45pm BST: European Central Bank press conference Update: Date: 2025-06-05T06:32:14.000Z Title: German factory orders rise unexpectedly Content: German factory orders have jumped unexpectedly, defying forecasts that they would fall as Donald Trump's tariffs disrupted trade. Orders at German manufacturers rose by 0.6% in April, official data this morning shows, beating forecasts of a 1% fall. Der #Dienstleistungssektor in Deutschland hat im März 2025 nach vorläufigen Ergebnissen real 0,5 % und nominal 0,6 % mehr #Umsatz erwirtschaftet als im Februar 2025. Verglichen mit März 2024 gab es einen Umsatzanstieg von real 0,9 % und nominal 2,7 %. Statistics body Destatis also reported that foreign orders declined by 0.3%, despite a 0.5% rise in orders from within the eurozone. Domestic orders increased by 2.2%. Demand for data processing equipment, electronic, and optical products increased, while there was also a rise in new orders for transport equipment, and for metal products. Update: Date: 2025-06-05T06:25:10.000Z Title: Introduction: ECB expected to cut interest rates today Content: Good morning, and welcome to our rolling coverage of business, the financial markets and the world economy. Interest rates across the eurozone are likely to be cut today, as the European Central Bank attempts to support the euro economy as it reels from the damage caused by Donald Trump's trade wars. The ECB is widely expected to cut its key interest rates by a quarter of one percentage point. That would lower its deposit facility rate to 2%, and would be the eighth cut in a year. A cut looks nailed on, after inflation across the eurozone fell to 1.9% last month, below the ECB's 2% target for the first time since last September. Markets are pricing almost a 100% probability of a quarter-point cut, reports Ronald Temple, chief market strategist at Lazard Asset Management, adding: With ongoing declines in inflation and consistently dovish language from ECB members, a rate cut appears to be a done deal. The ECB has previously described 1.75%–2.25% as the range that would be considered neutral monetary policy. Any signals of a change in this view would be surprising. I continue to expect rates to be reduced to 1.5% by year end given a more aggressive US trade posture against the European Union. Markets suggest a slightly less dovish outlook with rates ending the year just below 1.6%.' Today, investors will also be interested to hear the ECB's latest forecasts – economists expect cuts to its growth and inflation projections for next year. The ECB may also signal that it could pause its rate cutting cycle over the summer, before reassessing the situation in September. Christine Lagarde can also expect questions about her claim last month that the euro could take on a more global role, as the dollar loses influence amid the current trade turmoil. Lagarde's future could also come up, following claims that she has discussed cutting short her term as European Central Bank president to become chair of the World Economic Forum. 7am: German factory orders for April 9am BST: UK new car sales report for May 9.30am BST: UK construction PMI report 1.15pm BST: European Central Bank interest rate decision 1.30pm BST: US trade data for April 1.30pm BST: US weekly jobless claims data 1.45pm BST: European Central Bank press conference

Lazard Asset Management Appoints Eric Van Nostrand Global Head of Markets and Chief Economist
Lazard Asset Management Appoints Eric Van Nostrand Global Head of Markets and Chief Economist

Business Wire

time6 days ago

  • Business
  • Business Wire

Lazard Asset Management Appoints Eric Van Nostrand Global Head of Markets and Chief Economist

NEW YORK--(BUSINESS WIRE)--Lazard Asset Management (LAM) today announced that Eric Van Nostrand has joined the firm as Global Head of Markets and Chief Economist. In this newly created role reporting to LAM CEO Evan Russo, Mr. Van Nostrand will work across the firm's investment and research teams, bringing additional macro insights and market perspectives to our investment decisions. As a member of the executive leadership team for Lazard's Asset Management business, he will lead economic and market analysis for the firm and its clients, including oversight and development of investment content. "Financial markets around the world are becoming increasingly complex, with global economic volatility and policy decisions profoundly influencing market dynamics and investment outcomes," said Evan Russo, CEO of Lazard Asset Management. 'Eric joins the firm at a time where actionable economic analysis and macro insights are more critical to investment success. Lazard is renowned for its deep research and investment acumen, and Eric's background and experience will further enhance our capabilities to deliver world-class investment solutions and insights for our clients.' Mr. Van Nostrand most recently served as Assistant Secretary of the Treasury for Economic Policy, serving as Chief Economist at the US Treasury Department under Secretary Janet Yellen. Eric received the Alexander Hamilton Award, Treasury's highest honor. Prior to his government role, Mr. Van Nostrand was a portfolio manager and Managing Director at BlackRock, where he managed systematic equity funds and served as Head of Research for Multi-Asset Strategies. He earned undergraduate degrees from the University of Pennsylvania and holds a JD from Yale Law School. 'I'm excited to join Lazard Asset Management and help our investment teams deliver market-leading investment performance to our clients,' said Mr. Van Nostrand. 'Lazard has a distinguished reputation and proven track record for generating alpha, grounded in rigorous investment research and analysis. I am looking forward to contributing to those efforts to help our clients achieve their investment goals.' About Lazard Founded in 1848, Lazard is the preeminent financial advisory and asset management firm, with operations in North and South America, Europe, the Middle East, Asia, and Australia. Lazard provides advice on mergers and acquisitions, capital markets and capital solutions, restructuring and liability management, geopolitics, and other strategic matters, as well as asset management and investment solutions to institutions, corporations, governments, partnerships, family offices, and high net worth individuals. For more information, please visit and follow Lazard on LinkedIn. Lazard Asset Management, a subsidiary of Lazard, Inc. (NYSE: LAZ), offers a range of equity, fixed income, and alternative investment products worldwide. As of April 30, 2025, Lazard's asset management businesses managed approximately $231 billion of client assets. For more information about LAM, please visit LAZ-AM

Lazard Asset Management Launches its First Three Active ETFS in the U.S.
Lazard Asset Management Launches its First Three Active ETFS in the U.S.

Yahoo

time07-04-2025

  • Business
  • Yahoo

Lazard Asset Management Launches its First Three Active ETFS in the U.S.

These ETFs provide access to Lazard's specialized investment capabilities across three strategies: Equity Megatrends, Japanese Equity, and Next Gen Technologies NEW YORK, April 07, 2025--(BUSINESS WIRE)--Today, Lazard announced the launch of its first three actively managed ETFs in the United States, offering more investors access to compelling, differentiated strategies from Lazard's specialized investment teams. Each ETF investment strategy is backed by decades of experience, deep independent research and on-the-ground expertise, offering unique opportunities for growth and diversification. "Today marks a historic milestone for Lazard," said Evan Russo, CEO of Lazard Asset Management. "The debut of our first set of ETFs in the U.S. reflects our commitment to continuously enhancing our business while providing clients with leading solutions that are grounded in deep research and specialized expertise." "This launch represents a significant step forward in making Lazard's sophisticated investment solutions accessible to more investors," said Rob Forsyth, Global Head of ETFs at Lazard. "Today, we're launching high-conviction, alpha-seeking ETFs managed by expert, specialized teams. We're ambitious about growing our ETF franchise over time to meet our clients' evolving needs." Details of Lazard's three ETFs, which began trading on Nasdaq today, include: Lazard Equity Megatrends ETF (Nasdaq: THMZ) is an actively managed ETF that seeks to capture the return opportunity from global megatrends that will shape the future Manager, Steve Wreford said: "The world is changing at an unprecedented pace. Technological, demographic, and geopolitical shifts are reshaping the investment landscape as a result. These long-term structural shifts represent an opportunity for investors adapting for the future."THMZ uses a proprietary and proven investment approach to identify significant megatrends and invests in multiple diversified themes expected to benefit from these trends. The fund is managed by Steve Wreford, John King, Sarbjit Nahal, and Nicholas Bratt. Lazard Japanese Equity ETF (Nasdaq: JPY) seeks to capitalize on growth opportunities and market inefficiencies in Japanese Manager, June-Yon Kim said: "Japan is undergoing significant economic and policy changes, helping its companies recapture growth after decades of stagnation. A gradual shift from a long period of deflation to inflation is transforming the economy, corporate behavior, and consumer habits. Regulatory reforms are also driving improvements in corporate governance, capital efficiency, and shareholder returns. JPY seeks to capitalize on these changes in the world's third-largest economy."The team comprises a local, bilingual team with decades of active investing experience in Japan, leveraging a global perspective to uncover inefficiencies and structural changes affecting Japanese companies. The fund is managed by June-Yon Kim, Matthew Bills, and Scott Anderson. Lazard Next Gen Technologies ETF (Nasdaq: TEKY) provides investors with targeted exposure to high growth and profit-generating equities that are designed to capture value driven by productivity, AI, and Manager Tjeert Keijzer said: "Automation has been a core driver of productivity and economic growth for centuries, typically fueled by key technological advancements at specific points in time. Today, we believe that recent breakthroughs in artificial intelligence (AI) are unlocking the next generation of automation applications. Developments in AI technologies are poised to continue along a sustainable and accelerating path, promising to deliver new automation solutions for the foreseeable future."TEKY offers investors exposure to innovation leaders by investing globally in companies that are developing key automation-enabling AI technologies. The fund is managed by Tjeert Keijzer, Celine Woo, and Ario Kishida. "For decades, Lazard has helped clients build stronger portfolios with world-class actively managed equity strategies," said Jennifer Ryan, Head of North America Distribution. "These three new ETFs bring some of Lazard's best ideas to investors and financial advisors in a versatile, transparent, efficient format—empowering them to shape their investment futures and reach their financial goals." About LazardFounded in 1848, Lazard is one of the world's preeminent financial advisory and asset management firms, with operations in North and South America, Europe, the Middle East, Asia, and Australia. Lazard provides advice on mergers and acquisitions, capital markets and capital solutions, restructuring and liability management, geopolitics, and other strategic matters, as well as asset management and investment solutions to institutions, corporations, governments, partnerships, family offices, and high net worth individuals. For more information, please visit Lazard Asset Management, a subsidiary of Lazard, Inc. (NYSE: LAZ), offers a range of equity, fixed income, and alternative investment products worldwide. As of 30 January 2025, Lazard's asset management businesses managed approximately $233 billion of client assets. For more information about LAM, please visit LAZ-AM Risks and Disclosures Investing involves risk, including the loss of principal. Please consider a fund's investment objectives, risks, charges, and expenses carefully before investing. For more complete information about Lazard ETFs and current performance, you may obtain a prospectus or summary prospectus by calling 800-823-6300 or going to Read the prospectus or summary prospectus carefully before you invest. The prospectus and summary prospectus contain investment objectives, risks, charges, expenses, and other information about the Portfolio and Lazard ETFs that may not be detailed in this document. The Lazard ETFs are distributed by Foreside Fund Services, LLC. Investment Products: NOT FDIC INSURED I NOT BANK GUARANTEED I MAY LOSE VALUE Non-US Securities Risk: The Portfolio's performance will be influenced by political, social and economic factors affecting the non-US countries and companies in which the Portfolio invests. Non-US securities carry special risks, such as less developed or less efficient trading markets, political instability, a lack of company information, differing auditing and legal standards, and, potentially, less liquidity. Country Risk: Implementation of the Portfolio's investment strategy may, during certain periods, result in the investment of a significant portion of the Portfolio's assets in a particular country, such as Japan, and the Portfolio would be expected to be affected by political, regulatory, market, economic and social developments affecting that country. Thematic Investing Risk: The Portfolio's thematic investment strategy may limit the universe of investment opportunities available to the Portfolio and will affect the Portfolio's exposure to certain companies, sectors, regions and countries, which may result in the Portfolio forgoing opportunities to buy or sell certain securities when it might otherwise be advantageous to do so. Next Gen Technologies Companies Risk: The Portfolio invests primarily in the equity securities of Next Gen Technologies Companies and, as such, is particularly sensitive to risks to those types of companies. These risks include, but are not limited to, small or limited markets for such securities, changes in business cycles, world economic growth, technological progress, rapid obsolescence and government regulation. Securities of Next Generation Technologies Companies, especially smaller, start-up companies, tend to be more volatile than securities of companies that do not rely heavily on technology. Rapid change to technologies that affect a company's products could have a material adverse effect on such company's operating results. View source version on Contacts Media RelationsAziz Nayani+1 Investor RelationsAlexandra Deignan +1 Sign in to access your portfolio

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