Excessive pessimism surrounding Europe ultimately will prove bullish, Nomura says in its annual...

|By:, SA News Editor

Excessive pessimism surrounding Europe ultimately will prove bullish, Nomura says in its annual outlook. It’s now clear that a resolution eventually will be reached, it says, yet the stock market continues to price in a tail-risk event - a cautious and excessive positioning. Nomura sees the biggest opportunity in emerging market stocks, which have been punished far more than U.S. equities.