Strategy and Economics
Europe
4 Europe Strategy
Tightening Checklist
Teun Draaisma
8 Germany Economics
Hoping for the Best
Elga Bartsch
12 Italy Economics
Assessing the Damage
Daniele Antonucci
Global
16 Global Equity Strategy
Wheeling the Grease
Gerard Minack, Jason Todd
18 US Economics
Fedspeak: Roadmap for the Exit
Richard Berner, David Greenlaw
20 US Credit Strategy
Rate Relief
Rizwan Hussain, Gregory Peters, Adam Richmond
22 US Interest Rate Strategy Liquidity Aplenty,
But Rising Sensitivity to Rates
Jim Caron
24 Currency Strategy
Look Who’s Talking
Sophia Drossos
Industry Analysis
26 Global Airlines
Top Picks for Recovery
Penelope Butcher, William Greene, Chin Lim,
Nicolai Sebrell, Philip Wensley
Company Analysis
28 Adecco MPS Is Not a Game-changer;
Recovery Risks Remain
David Hancock, Jessica Flounders, Mikko Ervasti
4 Europe Strategy
Tightening Checklist
Teun Draaisma
26 Global Airlines
Top Picks for Recovery
Penelope Butcher, William Greene, Chin Lim,
Nicolai Sebrell, Philip Wensley
30 􀃇 Anglo American Plc
Amplats Is Entirely Upside
Ephrem Ravi, Alain Gabriel, Markus
Almerud, Carsten Riek