The depth of the equity sell off has helped absorb overvalua...

The depth of the equity sell off has helped absorb overvaluations but it has not incorporated a deterioration in corporate fundamentals. Risks remain in the growth space. The buying signal for risky assets will depend on bond yield's capacity to stabilise. Although the global repricing is still underway, this prospect does not appear so distant.
We are cautious on DM equities , as the earnings outlook remains to optimistic. Tactically, we favour US over EU equity and China should benefit from an economic rebound in H2. Quality, value and dividend stocks should outperform.
$Apple(AAPL.US)$ $Tesla(TSLA.US)$ $Amazon(AMZN.US)$