A booster shot for our rotation view | Global

The latest vaccine newsflow reduces downside tail risks and increases our conviction in our ‘old economy’ rotation thesis. We upgrade global equities to overweight.

Recent data support this more positive view. The global manufacturing cycle continues to improve and there are signs of a nascent capex recovery, supported by a better than expected corporate earnings performance.

Download this piece to find out:

  • Our equities allocation matrix
  • Which covid-hit sectors still have a lot of room to catch-up
  • How the bottom-up consensus points towards a robust capex recovery

Topics: Global, Coronavirus, GDP, Coronavirus vaccine

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