Global Inflation: European Markets Passed Peak Pessimism?

"High inflation, strong U.S. dollar, and third quarter earnings dominate the stock market sentiment. Any change to long-term Federal Reserve funds rate estimate will be scrutinized. The change would have material impact on earnings and outlook for equities. I believe we have passed peak pessimism in Europe. European markets face higher earnings downgrades risk and extremely pessimistic sentiment. I believe the Bank of England will hike at least 75BPS with inflation continuing to push above 2% target," says Morgane Delledonne.