• Our Global Equity strategists have argued that for the very short term equities appeared toppy, post the strong run. That said, their medium term outlook remains bullish, where they believe one should use the potential weakness as an opportunity to add further, and they don’t forecast a significant correction as positioning continues to be light. They see equity rebound becoming supported fundamentally into 2H on the dovish Fed, USD rolling over, easing trade concerns and China growth improving, which should ultimately feed into Europe. Regionally, they are OW EM/China and the US, while they are unexcited by Europe.

JPMorgan