CHART OF THE DAY: Eurozone | Asset Class, Sector & Style Factor Performance

08/02/21 07:54AM EDT

Below is a chart and brief excerpt from today's Early Look written by Hedgeye CEO Keith McCullough.

Nah, you don’t hear much of a peep from the peeps who have been “Bullish on cheap EM” this year. Ex some Oily EM’s like Russia (RSX) and Saudi Arabia (KSA) The Singularity of my Signaling Process has kept me out of EM and short China.

European Equities have been a much better place for Full Cycle Investors to compound returns in 2021:

  1. EuroStoxx600 was +0.1% last week to +2.0% and +5.6% in the last 1 and 3 months, respectively
  2. Swiss Stocks (SMI Index) were +0.1% last week to +1.5% and +9.9% in the last 1 and 3 months, respectively
  3. Germany Stocks (DAX) corrected -0.8% last week to +0.1% and +2.7% in the last 1 and 3 months, respectively

Both last week and the past month have downgraded Germany to #4 on my Strength of Signal Rankings with Switzerland (EWL) still at #1 followed by the Netherlands (EWN) and France (EWQ) in the #2 and #3 slots. Spain (EWP) remains our top Euro Short.

CHART OF THE DAY: Eurozone | Asset Class, Sector & Style Factor Performance - 8 2 2021 7 39 54 AM

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