European Equities Soar, but Remain Modestly Attractive
Valuations remain reasonable and upside potential outweighs downside risks.
Europe
Ultra-Long Gilts – Too, Too Dear
Ultra-long gilts provide interesting opportunities, but not at today’s prices.
European Small Caps: Mounting Concerns, but Stay the Course
Small-cap stocks on both sides of the Channel have performed quite well this year, though their momentum could begin to diminish under the force of several headwinds.
European REITs – The Changing Landscape
Can government and property industries craft a real estate investment vehicle that shores up the tax base and satisfies investor demands?
Equity Investors Shrug Off Economic Concerns
Optimism about future earnings growth is rising.
U.K. Equity Valuations
U.K. equity valuation metrics provide mixed signals, but suggest that the market is close to fair value unless one assumes a rather dramatic decline in earnings just over the horizon.
The All-Share Grows More Concentrated
The Royal Dutch/Shell merger will make the already top-heavy FTSE indices even more concentrated.
Are Linkers Rich?
Linkers look expensive at current yields.
U.K. Property: Stretched Valuations and Spotty Fundamentals
Upside from current U.K. property levels is likely to be limited.
Relatively Optimistic on U.K. Equities
While U.K. equities look a sight better than U.S. equities, they appear somewhat stretched on an absolute basis.