Lucky Dip
Wednesday, July 5th, 2017 Categories: Correction, Eurozone
Buy the Eurozone correction, not the US
We agree with consensus that an equity correction could happen at any time. However, we will not be buying the dip in the US. We much prefer the Eurozone, which has a habit of late-cycle outperformance. We also prefer Japan, which has just hit a new 22-year high, to EM, which keeps failing at resistance just above current levels.