Global Stocks (MSCI ACWI ex-U.S.) – Global Equity Prices Excluding U.S. Stocks Global stocks ex-U.S. remain below pre-Global Financial Crisis highs. Image: BofA Global Investment Strategy
Seasonality – MSCI ACWI (Global Equities) Historically, March and April tend to be strong months for global equities. Image: Morgan Stanley Research
Valuation – MSCI ACWI World Market Capitalization to Global GDP Ratio The MSCI ACWI World Market Capitalization to GDP ratio is at record high. Image: Morgan Stanley Research
Returns – G7 + China Free Liquidity and MSCI ACWI (Leading Indicator) Global free liquidity continues to rise. When global free liquidity is above 10%, equity markets tend to perform well: the average next 12-month return is 23.4% with a hit ratio of 100% since 2009. Image: BofA Global Research
Major Economies Central Banks Total Assets and MSCI ACWI Central bank balance sheet expansion is expected to push equities higher. Image: BofA Global Research
MSCI ACWI Ex. U.S. ETF and ACWI Ex. U.S. Relative to S&P 500 The 3-year bear market for global equities ex. U.S. is over. Image: Strategas Research Partners
MSCI All Country World Index (MSCI ACWI) – Value Minus Growth, One-Day Change Should investors forget growth stocks, as value investing is back in play? Image: Morgan Stanley Wealth Management
Performance – Global Equities Equal Weighted (MSCI ACWI Equal-Weighted Index) The MSCI ACWI Equal-Weighted Index has done virtually nothing since 2007. Image: BofA Global Investment Strategy
Dividends Yield on MSCI All Countries World Index (MSCI ACWI) Bye-bye dividends? Dividends have been hit hard by the coronavirus pandemic. Image: Financial Times
U.S. Dollar and MSCI ACWI Index This year, a weaker dollar could cause global stock prices to rise. Image: Bloomberg