巴克莱-美股-股票策略-贸易战将会平息，但全球经济增长忧虑加剧.pdfVIP

CORE Equity Research 2 October 2019 Equity Compass Trade war concerns subside, but MACRO STRATEGY global growth worries increase U.S. Equity Strategy U.S. Equity Strategy In this monthly publication, we provide a snapshot of the domestic and Maneesh S. Deshpande international macro environment including updates to our top-down/bottom-up +1 212 526 2953 EPS and P/E forecast models, as well as the performance of recent thematic baskets. maneesh.deshpande@ BCI, US NTM EPS models projections declined for both top-down and bottom-up models. Elias Krauklis Falling consensus (to 4.0% from 4.6%) as well as weaker leading economic indicators +1 212 526 9376 lead to a decline in our bottom-up NTM projection (to -1.5% from -0.8%), while elias.krauklis@ declining domestic economic forecasts (primarily inflation) moved our top-down NTM BCI, US projection lower (to