Monday, April 28, 2014

The Great European Equity Trade Is Over

Why? Because there isn't and won't be, an economic recovery. Europe has stopped shrinking (for now), that's it. Earnings growth will, as a result, continue to disappoint. Stocks have priced in a US style recovery - it's not going to happen. 


European corporates thwart analysts' optimism - FT.com
http://www.ft.com/cms/s/0/587ee466-cc86-11e3-9b5f-00144feabdc0.html

(via Instapaper)



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