Cazenove's Brookes: Europe more attractive than US

Brookes admits many managers think the US is rebounding, which is linked to some positive macro news. The nation's gross domestic product (GDP) rose at a 2.5% annual rate between January and March, though economists had been forecasting growth of 3%, marking 15 consecutive quarters of growth. However he thinks much of this rebound has been priced in to markets, leaving US equities expensive and vulnerable to any macro level wobble. "A lot of people are convinced the US is rebounding and will go on a tear - but it already has done. This is linked to the macro recovery, but also at a...