Euro Area

A restrictive policy by the ECB and a weak manufacturing sector will create headwinds for European stocks this summer. How should investors position their portfolios in this context?

The ECB continues to focus on lagging indicators and risks once again to cause a policy error that unduly hurts European growth. What does it mean for investors?

The initial phase of the EU’s ambitious CBAM will launch 1 October and will begin collecting a carbon tax in 2026. Between now and then, it will be challenged as it attempts to put a price tag on CO2 emissions as imports cross the EU border. The CBAM will impart an inflationary bias in EU commodity and goods markets as 2026 draws near and importers have to secure EU ETS credits, the number of which, by design, will contract over time.

Macro and geopolitical risks may spoil the narrow window for a stock market rally before recessionary trends rise to the fore.

EUR/USD is trying to breach above 1.10. What is the balance of positive versus negative factors that would allow the euro to breakout?

European equities continue to inch closer to record highs, yet, their earnings outlook is deteriorating. How can investors build hedging portfolios using the message from earnings and valuations to protect themselves against the growing risk of a pullback?

We are increasing our gold price target to $2,200/oz, given the increasing risk of fiscal dominance in the US, rising geopolitical risk, the return of trading blocs and currency debasement risk. These risks also will increase economic uncertainty, which also will be bullish for gold.

We Introduce our new macro models for the Eurozone’s equity earnings, which include sectoral forecasts. Find out what they predict for the next six-to-nine months.