Europe First to Market

This daily morning meeting summary discusses the potential for a 2H rebound in beaten-down consumer sectors and reaffirms the outperformance of cyclicals. It also covers various company-specific updates, research publications, and upcoming market events.

Key Takeaways

• 1.Consumer sub-sectors that have been beaten down are showing signs of bottoming and are expected to perform better in 2H, despite a challenging long-term trend.
• 2.Cyclical sectors are expected to continue outperforming in 2H, aligned with the year-ahead outlook.
• 3.Inflation expectations are suspected to remain anchored, and sequential declines in headline CPI are expected to support real disposable incomes and mitigate pressure on bond yields.

Table of Contents

• Today's Morning Meeting
• Also Published Today
• Key Changes
• EPS Estimate Changes
• JPM Events
• Upcoming Earnings

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