US stock market outperformance has been driven entirely by the 0.0002 percent of US superstar companies. But this superstar outperformance is based on two highly questionable assumptions: that all productivity gains from the…
Our European strategists see Europe escaping its liquidity trap, which will create a structural tailwind for European assets. Europe’s resilience amid global shocks is supported by a shift away from precautionary money demand,…
February flash inflation for the Eurozone was slightly hotter than expected but nonetheless declined, with both headline and core inflation falling 0.1% to 2.4% y/y and 2.6%, respectively. Services inflation also declined to 3.7%…
Investors see Europe as a museum: A continent stuck in the past, with no ability to innovate, much less generate profits. But is this view accurate? In this report we argue that the structural headwinds to European profitability are…
Europe’s resilience to global liquidity deterioration isn’t a fluke—it signals a structural shift. Our latest report explains why the decline in precautionary money demand marks the end of Europe’s liquidity trap and what it means…
This week, our three screeners cover equity plays in European Banks, US Financials, And US Stocks that are “Grave Diggers”.
European equities have outperformed the US so far in 2025, especially after Euro Area economic surprises started outperforming as the US is starting to disappoint. The current leadership change between US and European assets reflects…
German election results were roughly as expected, but Europe’s biggest economy suddenly just got more interesting. While the details of the governing coalition have yet to be finalized, Chancellor Merz has floated options to ease the…
Fourth-quarter European negotiated wages growth cooled to 4.1% y/y, down from the 5.4% peak seen in Q3. The cooling is in line with the ECB’s Wage Tracker showing wage growth decelerating to 1.3% by the end of the year. Labor…
Trump’s ceasefire talks are positive for Germany – and so was the German election result. But Trump’s tariffs will hit Germany soon. Investors should use near-term volatility to increase exposure to Germany.