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CPI, Euro Equities, The Fed, and Real Estate (Podcast)

Bloomberg Intelligence

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The Differences Between Europe and the US

Within Europe itself, the market overall is trading at about 13 times forward earnings. That's very low relative to the US, where you're at 18-19 times. It's cheap because of composition - big on consumer staples but tobacco trades at a lower multiple. And given that we're still close to cyclical peak commodity earnings, they're trading at low multiples.

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