As we see less tension in Greece through differents indicators (10y yield, Banks) European market continue to Underperform...it looks like Greek issue is not waht is worrying investors in Europe...
RUB traded on lower levels on the 16th (~$49.5)and back on Friday (~$50)...trading above the $52 level now so the move is not huge...
SPX has only outperfprmed europe by 45 on the last 2 weeks...
Oil is trading higher for the last 2 weeks...
Earnings all across look pretty ok...
Only reason for market to underperform will be a rate hike in the US...but economists have cooling down expectation...expectation of a surprise move could be the catalyst for market to make a pause..
I continue to be pretty bullish and think that the market could trade higher...
M&A is still an important catalyst for European market to continue to perform...
