Meanwhile all the losers from a strong US dollar regime remain at the bottom of the sector preferences (energy, materials as well as general commodities and emerging markets).
Another indicator of a lack of emerging market interest currently:
Meanwhile the cash balance level suggests from a contrarian perspective...buy equities still:
My conclusions from all of this? Sector-wise buy out-of-favour sectors / asset classes which may benefit if the US dollar does not remain as strong. As for Europe specifically it is concerning just how much more QE is seen as a panacea.