U.S. equity investment flow trends to Europe are reversing with net buying in March rising to highest level since October 2015.
UBS strategists led by Nick Nelson say in note:
* Investors net buying of Switzerland stocks is highest since UBS records began in 2005
* Investors also buying pharmaceutical sector
* Investors selling Spain and Sweden, net selling of France "has been modest"
* European 4Q earnings season had best net beats in 6 years
* That led to upward revisions in analyst earnings estimates
* Trend in earnings estimate revisions has continued into March, driven by growth in revenues
* Hedge funds net buying reached a 4-year high in February
Source: Bloomberg
Junior Trader Stefan Panteleev
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