Pantheon Macroeconomics
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12th Aug 2022 15:11Eurozone, Daily Monitor
Equities want to believe in a monetary policy pivot; we don’t share their optimism.
Valuations are now attractive for EZ equities, but we still think earnings have further to fall.
Eurostoxx 50 will fall 4% by year-end; we see gains of 10% and 13% in ’23 and ’24, respectively.
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