The J.P. Morgan View: Who did it? US, EU, or both?
From: US GIO <To: Undisclosed recipients:;
…in the current highly uncertain environment? Our preference is for relative rather than directional trades. The relative trades we highlighted last week are to overweight the countries that are least vulnerable (Germany) or furthest (Japan) from the problematic spots of Europe or the US. In particular, we EFTA00655985 recommend that investors buy DAX vs. Eurostoxx50 and MSCI Japan$ vs. MSCI World$. Across EM, we avoid BRICs and focus exposure on ASEAN countries, i.e. long MSCI South East Asia$ vs…