North American Growth Expectations


Over the next 4 years, the Energy sector has the highest hurdle to clear in terms of growth expectations of any sector in the MSCI North American index. Looking back at the past 10 years, the double-digit sales growth expectation seems feasible.

Plunging European Inflation


Inflation in the Spain and Italy is plunging at rates reminiscent of 2008-2009. From StreetAccount:Draghi says ECB guidance allows rate cuts on volatility: Bloomberg cited comments from ECB President Draghi, who said that the central bank’s pledge to maintain rates at low levels explicitly allows for cuts in lending costs if market volatility resumes.

Back To The Beta Trade?


Over the last three months, the ”beta trade” has been on.  We slice all 1,600 companies in the MSCI World index into deciles from lowest beta to highest, and then we measure the performance of each decile.