Wellington Management另一篇5月的月度评论，看好欧洲股票，认为虽然其估值不低，但相对美股来讲依然有很强的吸引力：

Emmanuel Macron has been elected the next president of France, eliminating a major tail risk and inserting some near-term certainty into the markets. Following Macron’s advancement in the firstround election on April 23, European equities rallied strongly. Given his outright victory, many investors are wondering whether or not European assets have more room to run. The short answer is yes. In this month’s commentary, I’ll briefly explain the reasons why.