HSBC Global Research - European Credit Outlook 2012 & Monthly AlphaPicks December 2011 No. 4
Date: 6 December 2011
Language: English

European Credit Outlook 2012
Strategy outlook 3
Quantifying the effect of sovereign yields 15
Financials – the good, the bad and the ugly 20
High grade corporate outlook 26
High grade sector views 31
High yield 60
High yield sector views 67
European cable TV 67
European telecoms 67
Global chemicals 67
Structured & asset-backed 78
Disclosure appendix 92
Disclaimer 100

Monthly AlphaPicks December 2011 No. 4
Bottom-up market analysis 3
Strategy and stock picks for December 2011 8
Special situations & anomalies 12
Two-dimensional style comparison 15
1. Value 19
2. Dividend 24
3. Contrarian & Optimism 27
4. Momentum & Growth 33
5. Quality models 40
6. Short 45
7. Market and other risks 48
STOXX 600 – all stocks at a glance, November 2011 54
Style & Systematic Alpha: product overview 65
Appendix 76
Disclosure appendix 84
Disclaimer 87