European indices are accelerating to the upside, and we don’t like standing in front of trains! According to the Bank of America Fund Managers survey, money is flowing across the Atlantic, which ties in with our view that European indices are set to outperform their US peers this year. Overall, this is an excellent read-through for the ASX, which correlates far more closely to European bourses than the US.
- We have no interest in fading the current strength across European bourses, but it remains challenging to identify a target at this stage.
MM are cautiously bullish towards European stocks
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