FEATURED TOPIC
End of US Exceptionalism and Europe’s reawakening - an epic turnaround or a dead-cat bounce?
AIR DATE
July 7, 2025
DISCUSSION HIGHLIGHTS
European equities have re-rated against US peers by the most in five decades over the past three months and for five good reasons. This Monday Minute will delve into the reasons behind this and why we think that European equities will continue to outperform their US peers over the next 5 years. The gap between Europe and US will be significantly reduced – and this ultimately means a period of European outperformance. The “tariff war” has not changed our long-term view of Europe. We think the tariffs will either be reversed or will damage the US more than its trading partners.
Access to the Monday Minute provides you the link to view at your leisure or share with your team.
Luca Paolini
Chief Strategist, Multi Asset & Quantitative | Pictet Asset Management
Luca Paolini joined Pictet Asset Management in 2012 as Chief Strategist. Before joining Pictet, Luca worked as an Equity Strategist at Credit Suisse Securities, responsible for asset, regional and sector allocation. From 2005 to 2007, he was Investment Strategist at Union Investment. Luca started his career in 2001 at Allianz Dresdner Asset Management as a assistant vice president, covering asset allocation and investment strategy.
Luca holds a Master degree in International Economics and Management from SDA Bocconi School of Management in Milan, and a Laurea Magistrale in Political Sciences from the University of Bologna.
James Davis
Chief Investment Officer | OPTurst
James C. Davis is Chief Investment Officer of OPTrust, one of Canada’s largest pension funds with assets of $18.4 billion.
Mr. Davis leads OPTrust’s investment strategy and oversees its diversified portfolio spanning the globe with public market, private market, infrastructure, and real estate assets.
Mr. Davis has over 25 years of strategic investment planning and leadership experience, including proven results in liability driven investing and portfolio design. Most recently, he held the role of Vice President, Strategy & Asset Mix and Chief Economist at Ontario Teachers’ Pension Plan (Teachers’).
Before Teachers’, Mr. Davis was Vice President & Head, Global Fixed Income & Currencies at a large Canadian asset manager.
