Peak Euphoria
Thursday, May 18th, 2017 Categories: Elections, Eurozone, Global Equities
Macron trade already stronger than Trump trade
Our portfolio has had Eurozone Equities as its #1 position since the middle of March. We now see evidence of indiscriminate buying, with investors scrambling for exposure to the benchmark and not caring about sector or country tilts. Our exposure is now at a level which has only been matched three times by any equity region since the onset of QE.