I would like to see a larger decline in stocks / raw materials before the media panic. I would also like to see the global tightening of fiscal policy in a more isolated form from the panic in the debt markets and `` the likelihood of the collapse of the eurozone is no longer equal to 0 ''. but nothing can be changed and plans need to be adjusted depending on the circumstances.
also, how growth prospects have been overestimated and the market is surprised by the slowdown, prospective growth in quarterly earnings are overvalued equally. the question is, will it show up in the second quarter. ie. the market still has something to revise downward despite the overvalued cost of risk at the moment.
what i see now, it is the radical optimism of big houses and the radical pessimism of retail. on the one hand, the economic downside is not exhausted, but overestimated downside prospects in certain segments. thus, everything is bad, but that doesn't mean anything.
the best way my short-term sentiment is expressed by UBS: Depressed current valuations provide scope for markets to absorb earnings downgrades and to recover once growth concerns begin to recede.