Currency Converter - Rhapsody in Blue

Pan-European — Currency Converter
- Risk on — "European equities and the Euro have rallied c10% in recent months. Post Euro rallies, equities are usually weak, suggesting short-term caution."
- History suggests — "Cyclical sectors tend to outperform during periods of Euro strength while Tech, Health Care and Personal Goods more likely to underperform."
UK — Rhapsody in Blue
- Summertime — "Risk on has seen the market and Sterling rally 10%+ since April. Post previous Sterling rallies, short term equity performance has been weak."
- Dips and Rallies — "Ongoing economic recovery should support earnings growth in 2011. We continue to see this as a 'buy the dips, sell the rally' year."

Citigroup European Portfolio Strategist 20100812

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