International Market Intelligence Morning Briefing

The report highlights a shift toward a global economic recovery regime, supported by easing geopolitical tensions. While JPM remains bullish on equities, they advise hedging momentum exposure due to extreme positioning.

Key Takeaways

• 1.Global macro regime should shift back to recovery/expansion due to the reopening of the Strait of Hormuz, normalized business sentiment, and supportive financial conditions.
• 2.J.P. Morgan upgraded targets on EU Equities (5-10% upside) while remaining tactical on momentum-heavy tech sectors due to extreme positioning and high volatility.
• 3.Hedge fund gross leverage fell week-over-week, but remains at the 98th percentile, suggesting potential for further active de-grossing in late July.

Table of Contents

• MKT INTEL VIEWS
• POSITIONING
• CATALYSTS
• FTSE 100 P/E Multiple Scenarios
• SANAENOMICS PUBLIC AND PRIVATE INVESTMENTS AMOUNTS IN 17 STRATEGIC FIELDS
• IDEA & INSIGHTS – IN DETAILS
• POSITIONING INTELLIGENCE

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