European Macro & Market Outlook
Navigate European markets, uncover opportunities, and generate alpha.
China Shock 2.0: Europe Strikes Back
China shock 2.0 threatens Europe’s industrial core, but it is also forcing a long-overdue response. China stands to lose more than the EU from the coming confrontation. Beijing cannot afford to aliena…
A Credible ECB Supports European Assets
The ECB is winning, and almost nobody's pricing it in. A flatter Phillips curve, a shrinking term premium, a euro built to shrug off France, credibility is the trade.
Europe’s Earnings Renaissance: Can It Last?
Europe’s earnings recovery is increasingly difficult to dismiss. Margins, ROE, ROIC, and capital efficiency have all improved, while banks have re-emerged as an earnings engine. Cyclical conditions re…
Poland: Superstar Or Shooting Star?
Poland’s near-term growth story remains compelling: surging EU investment should cushion European weakness and support equity outperformance. But the clock is ticking. Demographics, skills shortages,…
Sweden And Norway: A Reversal Of Fortunes
The war in Iran and the energy shock are driving a reversal of Nordic fortunes: Sweden’s recovery is faltering just as Norway receives a welcome energy windfall. Favor Norwegian over Swedish equities…
Will Europe Avoid A Recession? Two Perspectives
Europe faces a difficult macro backdrop, but whether it slips into recession remains finely balanced. We present two perspectives before translating them into investment implications.
