Macro: It’s all about elections and keeping status quo
Markets are driven by election optimism, overshadowing growing debt and liquidity concerns. The 2024 elections loom large, but economic fundamentals and debt issues warrant cautious investment.
Head of Saxo Strats
Summary: The Q4 earnings season continues at high speed this week with around 340 companies reporting earnings out of the 2,000 companies we track during the period.
Moving to Europe, the initial picture was grim with negative earnings growth. However, as the earnings season progresses, STOXX 600 companies have delivered more upbeat numbers and the aggregate number is now showing positive earnings growth.