While US equities have fallen across the board today, “growth” stocks have continued to fare even worse than their “value” peers. We think that this underperformance has further to run, given that the relative price/earnings ratios of US growth stocks are still unusually high, and that there seems more scope for their earnings to disappoint.
Markets Drop-In (11th May, 10:00 EDT/15:00 BST): We’re discussing our Q2 Outlook reports and what they say about the potential performance of bonds, equities and FX rates as inflation peaks in a special 20-minute briefing on Wednesday. Register now.
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