We Bought 3 Months to Focus on Earnings: Jullier

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Oct. 17 (Bloomberg) -- Antonin Jullier, global head of equity trading strategy at Citigroup, focuses on expectations for the earnings season and what he sees for emerging markets. He speaks on Bloomberg Television’s “On The Move.”

Debt ceiling.

We have to focus on the earnings season.

It has been interesting.

On the west side, expectations are high.

And the levels are back 52%. the markets have done the work of lowering expectations.

So far it is 70/30. their small positive sales that are not as good.

The worry is that they will not be around for guidance in 2014. july is not unusual.

We have seen that for the last few use -- years.

Allow the companies we been looking at come out with earnings and it is growth and impact the way that they see the future.

Is this going to be the kind of the focus for next year ? it is all pointing towards emerging markets and what is interesting is the reaction we saw in the emerging markets.

We were trading for next year.

If you look at companies in developed markets, they demand rich valuations.

Both in the u.s. and europe?

You are trading at 16.5 times.

These are the same companies that have 30% valuation gaps.

We pay a lot of attention.

Are you going to get a convergence/ > --convergence?

They are undervalued, am i wrong?

I'm not thinking that he is necessarily.



The equity could drive this farther.

There's another way to get exposure very cheap.

It could be expensive to the cheaper one.

What is your favorite play in terms of putting equities?

Do you wait for the earnings season or can you put a play right now?

I can put a play on the u.k. on the valuation side, grossing city outperforming into next year -- growth seems to be outperforming.

I think we are one of the highest once.

Two or three percent.

There's an interesting currency angle where it is short.

The performance on the ftse -- we can see renewed interest in the pound.

The uk's very low in chief.

-- and cheap.


thank you so much.

Stay with us and we will talk

This text has been automatically generated. It may not be 100% accurate.


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