EZ equities likely to hold up better than US equities

We forecast that the MSCI EMU Index will fall by another 13% this year as the US joins China and the euro-zone in an economic slowdown. Nonetheless, a resolution to the trade war could see equities in the euro-zone fall by less than those in the US. Our key calls include the MSCI Italy Index and the MSCI Netherlands Index, which we expect to be the worst and best performers, respectively.

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