Health Warning
Thursday, February 7th, 2019 Categories: Equities, Eurozone, Sector Strategy, United Kingdom
Running European equity portfolios is harder than normal
The difference between our recommended sector weights for the UK and the Eurozone has reached a seven-year high. Of course, Brexit is part of the explanation, but for most of the period since the referendum this divergence was below its long-term average. It has always been dangerous to transfer sector views from one region to another without careful thought, but the danger now is much higher than normal.