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【出版时间及名称】：2010年南美证券市场展望
【作者】：摩根大通
【文件格式】：PDF
【页数】：149
【目录或简介】：
Table of Contents
2010 Outlook: Visibility in 1H ..................................................3
Preceding Bulls 1900-2009 ....................................................11
RISKS: Upside and Downside to Outlook ............................15
The Base Case: 3.6% GDP growth in ’10E ...........................17
Reality check: 3 Ingredients for Upside ...............................21
Ingredient 1: Pent-up Demand? Yes.....................................23
Ingredient 2: Possible Job-FUL recovery.............................33
Ingredient 3: Credit conditions ease.....................................37
Our ’10E/’11E is above Consensus.......................................45
Valuations reasonable on ’10E/’11E EPS .............................55
Sufficient demand for Treasuries in 2010, mitigating risk of
rising rates ..............................................................................61
2010 Sector Outlooks.............................................................67
Financials: Overweight ..........................................................73
Industrials: Overweight..........................................................79
Technology: Overweight........................................................85
Basic Materials: Overweight..................................................91
Energy: Overweight................................................................97
Consumer Discretionary: Overweight ................................103
Telecom: Neutral ..................................................................109
Healthcare: Neutral from Underweight...............................115
Consumer Staples: Underweight ........................................121
Utilities: Underweight...........................................................127
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