モーメンタム
米国が戦術的に優位に立つ中、欧州のデータが減速 米国が戦術的に優位に立つ中、欧州のデータが減速 米国株式はヨーロッパと比較して戦術的にアウトパフォームすると予測されていますが、欧州資産の下落やアンダーパフォームは長期投資家にとってエントリーポイントとなります。欧州株は過去の高値を超えられず足踏み状態である一方、S&P…
European equities have surged on hopes of a low-inflation boom—but the rally has likely gone too far, too fast. With a pullback now likely, how should investors position themselves over the next 3–6 months?
Trump's policies aim to support domestic producers and will be pro-growth and inflationary, at least initially. This environment is supportive of equities. Earnings will likely be strong, but elevated valuations make equities prone to a correction. Earnings growth broadening will translate into performance broadening – the S&P 493, Cyclicals, Value, Small and Mid are likely to outperform.