Deutsche Bank Removes U.S. Overweight Versus Europe as Iran Deal Lifts Prospect of Strait Reopening
Deutsche Bank lowered its relative preference for U.S. equities versus European equities to neutral after a preliminary U.S.-Iran agreement raised the likelihood that the Strait of Hormuz will reopen. The move reflects the bank's view that a reopening would reduce Europe-specific geopolitical risk, that U.S. technology stocks have already recovered…