Curbed Enthusiasm
European markets are not setting up for a standout 2008.
Europe
Has U.K. Property Finally Peaked?
It looks increasingly like U.K. property has seen its highs for this cycle.
The Trouble with European Financials
While exposures to “toxic waste” debt are tough to pin down, European financials face a tough road ahead.
European Property: Is the Party Over?
For the time being investors should avoid large bets on European property and should be in no hurry to ramp up allocations.
European Linkers: Getting Interesting?
While rising real yields have restored some value to European inflation-linked bond markets, linkers are not yet attractive on their own, although do offer some value relative to nominal government paper.
European Equities: Priced for Perfection?
Going long the European restructuring/growth story has gone from a contrarian play to a consensus trade.
Room to Boost European Dividend Yields?
Excess cash may lead to increased dividends and share-buyback activity, if M&A activity doesn’t lay claim to the money first.
European Small Caps: Is There More Left to Run?
While small caps may be able to climb higher amid the current liquidity-driven market, valuations clearly point to an unfavorable risk-reward trade-off relative to large caps.
Implications of a Rising Pound
While continued pound strength would weigh on unhedged cross-border U.K. investors, it should not crimp corporate profits so long as global growth stays strong.
All Quiet on the Eastern Front?
Is a booming emerging Europe veering toward an “Asia-Style” crisis?