Cyclical drivers still key to equity performance - in spite of Brexit
Triggered by the European Central Bank's (ECB) Asset Quality Review in November 2014, credit growth across Europe has continued to improve, albeit with ongoing support from the bank, writes PineBrdige's Hani Redha.
It is hard to overstate the powerful implications of this driver for profit margins, particularly since it coincides with low commodity prices, high consumer confidence, and a lack of cost pressures due...
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