{"podcast":{"title":"Thoughts on the Market","slug":"thoughts-on-the-market-980853","podcast_index_feed_id":980853,"rss_url":"https://rss.art19.com/thoughts-on-the-market","website_url":"https://art19.com/shows/thoughts-on-the-market","image_url":"https://content.production.cdn.art19.com/images/68/53/52/d0/685352d0-9248-46b0-99bc-96589e58c7da/17e395c4e66b1b71c451c38d72389ffaebc7784e20e8c3bea964dc0287434ef3475e93f6527b48a642d0d7a6a23943dcdef6c0b861481aed9ef54002b9f78b4d.jpeg","author":"Morgan Stanley","episode_count":1675,"summary":"Short, thoughtful and regular takes on recent events in the markets from a variety of perspectives and voices within Morgan Stanley.","last_synced_at":"2026-07-25T20:17:54.934994+00:00","page_url":"https://stenobird.com/podcast/thoughts-on-the-market-980853"},"episode":{"title":"Comeback for Europe’s Bull Market?","slug":"comeback-for-europe-s-bull-market","published_at":"2026-06-29T20:00:00+00:00","page_url":"https://stenobird.com/podcast/thoughts-on-the-market-980853/comeback-for-europe-s-bull-market","show_page_url":"https://stenobird.com/podcast/thoughts-on-the-market-980853","url":"https://pdst.fm/e/pscrb.fm/rss/p/rss.art19.com/episodes/c2952563-fa5d-499b-a1e4-ebd631069e70.mp3?rss_browser=BAhJIg90cmFuc2NyaWJyBjoGRVQ%3D--952c5701c84ad333c69d5faa668f8177091704f0","audio_url":"https://pdst.fm/e/pscrb.fm/rss/p/rss.art19.com/episodes/c2952563-fa5d-499b-a1e4-ebd631069e70.mp3?rss_browser=BAhJIg90cmFuc2NyaWJyBjoGRVQ%3D--952c5701c84ad333c69d5faa668f8177091704f0","summary":"Europe's equity rally has surprised many investors. Our Europe Head of Research Product Paul Walsh and Chief European Equity Strategist Marina Zavolock discuss potential outcomes of the broadening market. Read more insights from Morgan Stanley. ----- Transcript ----- Paul Walsh: Welcome to Thoughts on the Market. I'm Paul Walsh, Morgan Stanley's Head of Research Products here in Europe.  Marina Zavolock: And I'm Marina Zavolock, Chief European Equity Strategist.  Paul Walsh: And today, we're looking at whether European equities have more room to broaden – as markets assess the implications of a potential U.S.-Iran deal and a reopening of the Strait of Hormuz. It's Monday, June the 29th at 10am in London.  Marina, it's always great having you on. And for our listeners out there, I think they'd be interested to hear that if we look at Europe's performance year-to-date, it's now on a par to the S&P. So, both indices are up somewhere between 7 and 8 percent year-to-date. So, Europe is starting to stage something of a comeback from the conflict lows.  And so, what's driving this? And are we beginning to see inflows into Europe again?  Marina Zavolock: So, I'm going to give a two-part answer to this.  Firstly, Europe has a lot of the same exposure as the U.S., so that is part of the reason… I know that Europe has this kind of reputation for not having a lot of tech exposure; but we do have tech exposure…  Paul Walsh: We do.  Marina Zavolock: Not to the same degree as the U.S., but, let me just give you some numbers here.  So, we have a number of sectors heavily exposed to the AI CapEx boom. These are led primarily by the semis sector in Europe, tech hardware, cap goods, and metals and mining; specifically, copper has a link to…","meta_description":"Europe's equity rally has surprised many investors. Our Europe Head of Research Product Paul Walsh and Chief European Equity Strategist Marina Zavolock di…","key_points":[],"chapters":[],"topics":[],"duration_seconds":549,"processing_state":"not_requested","actions":[{"name":"request_transcript","method":"POST","url":"https://stenobird.com/v1/public/podcasts/thoughts-on-the-market-980853/episodes/comeback-for-europe-s-bull-market/transcription-requests","description":"Idempotently request low-priority transcript generation for this episode."},{"name":"read_markdown","method":"GET","url":"https://stenobird.com/podcast/thoughts-on-the-market-980853/comeback-for-europe-s-bull-market.md","description":"Read the agent-friendly Markdown representation of this episode resource."}]}}