Valuation – Price-to-Book Ratio – MSCI Japan Index vs MSCI ACWI ex Japan Index Warren Buffett’s positive view on Japanese stocks has raised the question of whether it is the right time to consider investing in them. Image: Morgan Stanley Wealth Management
Earnings Sentiment – S&P 500, STOXX 600, Topix, MSCI EM, MSCI World Earnings sentiment is improving, which is good news. Image: Goldman Sachs Global Investment Research
Performance – Global Equities Equal Weighted (MSCI ACWI Equal-Weighted Index) The MSCI ACWI Equal-Weighted Index has done virtually nothing since February 2020. Image: BofA Global Investment Strategy
MSCI All Countries vs. Median Profit Margin All Countries Will global corporate profitability improve in the coming quarters? Image: Topdown Charts
Stocks – MSCI Europe Value vs. Growth and 10-Year UST Yield Will European value stocks underperform European growth stocks in the second half of 2023? Image: J.P. Morgan
Stocks – MSCI EMU Earnings Yield Minus Real 10-Year Bund Yield (Equity Risk Premium) The equity risk premium below its 10-year average does not bode well for eurozone stocks. Image: Gavekal, Macrobond
Equity – MSCI China Index / MSCI All Country World Index Should investors overweight Chinese stocks? Image: Morgan Stanley Wealth Management
Valuation – MSCI AC World 12-Month Forward P/E and 10-Year Real U.S. Treasury Yield 10-year U.S. real yields help explain the valuation of global equities. Image: Goldman Sachs Global Investment Research
MSCI World Value vs. Growth Will the outperformance of value stocks over growth stocks persist? Image: Goldman Sachs Global Investment Research
Performance – S&P 500 Return vs. MSCI Europe Return Will European stocks outperform U.S. stocks in 2023? Image: Morgan Stanley Wealth Management