The Roundabout Accelerates
Global equities are about to start rotating faster than usual
We expect global equities to start rotating faster than usual on a country/regional basis. We discuss the technical rationale in some detail, but the important message is that this not about the recent winners such as the US and India, or the losers like China and Korea, but all the others, which are somewhere in the middle. There are several European countries like Germany, the Netherlands and Sweden, which are at risk of dropping down the ranking, while selected EM countries in Asia and Latin America could benefit. If our analysis is correct, this should happen before Christmas.