“Europe has moved to the bottom of the shopping list because there’s so many other regions that are showing better momentum,” said Mueller-Glissmann. “Everyone is quite sceptical about whether Europe will spend the money,” added Bell. “There is a feeling of ‘I want to actually see it as opposed to just being told that it’s going to happen.’”
Global investors are expressing doubt about a European equity rally as they wait for Germany to deliver on its promise of sweeping fiscal reform, according to Goldman Sachs Group Inc. strategists.
In an interview with Bloomberg, strategists Sharon Bell and Christian Mueller-Glissmann said money managers had voiced concern about Europe falling behind at a time when artificial intelligence is boosting US equities and China is outperforming in emerging markets.
