Global Insights

Raymond James maintains an overweight stance on US equities and Asian EMs while advising caution and profit-taking in the UK due to a disconnect between stock performance and stagflationary economic data.

Key Takeaways

• 1.The US remains the favored equity market over international developed markets due to stronger performance and fundamental backdrops.
• 2.UK equity performance has disconnected from weak economic fundamentals (sluggish growth and high inflation), making it a candidate for profit-taking.
• 3.Emerging Markets in Asia and Japan are the preferred international exposures due to earnings growth and technology weightings.

Table of Contents

• Our Views
• Regional Updates
• In the Spotlight
• KEY TAKEAWAYS
• UK Economic Statistics Show Ongoing Weakness
• UK's Recent Election Results Reflect Political Dissatisfaction
• How Is the Bank Of England (BOE) Responding?
• So, Why Have UK Stocks Done Well YTD?
• Bottom Line
• Key Market Levels and Performance
• Disclosures

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