and the request for external support for
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but the bar to support the economy and markets has been lowered substantially. We
as peripheral countries' budgets stay on track and economic activity recovers
political gridlock and some fiscal tightening
Democratic sweep and more fiscal tightening
political dysfunction and huge fiscal tightening
most likely in the form of agency MBS and Treasury purchases.
we keep our preference for IT due to a solid earnings outlook and strong
helping the Materials and Energy sectors to lead the market higher. The market could re-rate
and we would expect earnings growth of 5–8% over 12 months.
leading to further downside for Swiss financials and the exportfocused
helping to support China's economic growth outlook for the second half of 2012 and into 2013.
while Singapore's economy is rebounding and corporate
and risks related to the Eurozone debt crisis subside. In this
allowing multiples to expand and triggering the outperformance of