Deutsche Bank downgrade Europe equities to neutral from overweight, stays fullyear bullish ...Middle East

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In a note on Monday Deutsche Bank downgraded European stocks to neutral.DB are wary in the short term:"We expect markets to go mostly sideways with a mild setback of not more than 5% from current levels, predominantly in parts of the market that have seen the biggest inflows in the fourth quarter of last year,"And look for supportive central bank moves on the way, more than is expected:"We continue to believe that the ECB and the Fed will cut faster and further than the market is currently pricing in,"But, not yet!"However, we expect this to become apparent later this year, once central banks start to openly communicate planned cuts."Positioning is working against stocks:"Investor positionin

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