“Dangerously close to recession” — earnings edition
Or, earnings recession risk, and still not getting it in equities.
Interesting spot from Morgan Stanley’s European equities analysts, following the bank’s major downgrade of global growth forecasts and its belief that Europe in particular is “dangerously close” to recession.
European earnings growth forecasts were more than halved for 2011, (from 12 per cent to 5 per cent) which is about where Morgan Stanley reckons they should be given growth of about 2 per cent and is where investors have probably priced in.
http://on.ft.com/qx24cy
By Bob DeMarco
All American Investor
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| Image: TheDailyGold.com |
Original content Bob DeMarco, All American Investor
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