JPMorgan: The Europe vs US Trade Is Done, Here's Why

Just over two months ago, when the US was the global capital markets darling (remember "US exceptionalism"?) and world's best performing stock market, and Europe was barely green for the year, we presented a note from Goldman Mark Wilson which, accurately, asked if it was time to go long Europe  as most European largecaps had dramatically lagged their US peers (by the way, the note's conclusion was a resounding yes).