Continental European equity markets have rallied hugely since the US Federal Reserve began to cut interest rates. It’s an opportunity to sell.
The conjuncture of ostensibly good news about “new” IMF funding, Japanese and Asian bank bail-outs, and the Fed printing dollars to save the world, will fade along with global growth and corporate profit hopes. And in the next leg down in the global equity bear market, European equities will be the hardest hit.
The reason is this.
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