Europe

Focus on financials

Bid to secure position as leading European domicile

Expectations of a 'soft Brexit'

When the relationship between two well-observed and liquid variables in the bond markets reaches multi-year wides, it warrants attention.

For some time, the equity market has benefitted from what has been termed a 'Goldilocks' environment.

Rising inflation a risk

44% outperformed up from 28%

Political concerns remain

Up 6.2% since start of the year

Less scope for markets to get more expensive