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On Tuesday June 11th we hosted a conference call titled "Where Does Europe Go From Here?". On the call we highlighted the best investment opportunities in Europe and assessed the overall economy of the region.  

Summary Conclusions:

  • Fundamentals in Europe remain challenged due to structural headwinds and we should expect long-term below-mean growth
  • There is no risk to any country leaving the Eurozone or the Euro being disbanded, so another Cyprus flare-up is unlikely
  • European bifurcation will remain, with clear winners and losers:

–      Fundamentally Bullish: Germany and UK

–      Fundamentally Bearish: France, Italy and Spain

  • Establishing a fiscal and monetary union will be very challenging
  • ECB unlikely to shift policy anytime soon due to continued stress in peripheries
  • In the intermediate term, EUR/USD range-bound with a negative bias

To access the replay podcast and accompanying presentation, please click on the following links:

Podcast: CLICK HERE 

Presentation: CLICK HERE

As always, if there are any questions please shoot us an email and we’ll be sure to get back to you with a reply.

Thank you for being a client; we are grateful for your support.

The Hedgeye Macro Team