So far in 2023, European equity funds saw inflows for the first time since Russia invaded Ukraine nearly a year ago.
Lower natural gas prices and resilient economic data are contributing to the rally in European equities.
She expects the S&P 500 to rebound as much as 12% in 2023.
Investors are underestimating the potential impact of inflation, the firm's strategists said.
The broad view on stocks remains deeply pessimistic as earnings heat up this week, a new survey says.
A looming earnings recession “by itself could be similar to what transpired in 2008/2009,” said the strategist.
U.S. stocks have already pulled back this week after rallying in the fourth quarter.
The call marks a shift in his view from as recently as last week.
Stocks have rebounded in the past two months on bets that the Fed will be able to tame inflation in time to avoid a recession.
Worries about how far central bankers will go to rein in inflation have kept investors on edge.
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