Market Rally Still Has Legs, Says HSBC's Kettner

The transcript discusses the current state of the equity rally, credit spreads, and market sentiment between the US and Europe. It highlights the potential impacts of euro valuation on growth and profitability, and explores how a COVID-19 vaccine could influence market dynamics, particularly in the US. The discussion emphasizes the importance of sentiment and positioning indicators in investment strategies.

What factors could lead to a rotation in investment focus from the US to Europe?

In what ways might the US outperform Europe in the context of a vaccine rollout?

How might the economic impact of a vaccine differ between the US and Europe?