France at a Glance
At the beginning of 2016, France near the bottom of our rankings. It had the worst Fundamentals, exhibited high Risk and extended valuations. Only Peru and Switzerland ranked worst at that time.
Now, France exhibits better than average fundamentals (improving leading indicators), strong momentum, improved risk (narrowing CDS spreads and lower political risk) and cheaper valuations (Price/Book and Price/Cash Earnings).
France is just one of several other European countries that have become more attractive. It’s a great time to look at non-US exposures. And if you are interested in Europe due to its cheaper valuations and strong momentum, it’s an even better time to get under the hood and see which countries are the most attractive. After all, some European countries are more equal than others.