SPEU - European Outlook: Less Downside Now But Caution Still Warranted
Summary
- In recent weeks, evidence has mounted that the eurozone economy is proving resilient in the face of large shocks from higher energy prices and tighter financial conditions.
- While our expectation has been that a recession would be mild in Europe, recent data implies we may avoid recession altogether.
- In investment portfolios, we believe upping quality and liquidity when taking risk and exercising caution around the most economically sensitive areas of the market makes sense.
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European Outlook: Less Downside Now, But Caution Still Warranted