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Jul 13, 2012, 09.59 AM IST
Greed & fear feels investors should continue to construct portfolios on the assumption of a further depreciation of the euro against the US dollar. This is despite the fact that we expect some form of a renewed QE by the Fed to be announced before the end of this quarter.
Here are experts equity calls for the day on how the markets are expected to trade:
Chris Wood, CLSA: Hopes raised by the last Eurozone summit have dwindled over the past week. Greed & fear feels investors should continue to construct portfolios on the assumption of a further depreciation of the euro against the US dollar. This is despite the fact that we expect some form of a renewed QE by the Fed to be announced before the end of this quarter. A failure of the Fed to announce that, should lead to more upside momentum for the US dollar. Robert Buckland, Citigroup: We expect global equities to post high-single digit gains in the second half against a difficult macro backdrop. The bad news is that earnings risk remains elevated, as downward revisions to global earnings are now in their tenth consecutive week and are at levels not seen since last October. We believe bottom-up estimates for 2012 and 2013 are overstated even though markets have strong valuation support at this point.
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