Performance – MSCI Europe vs. MSCI ACWI and MSCI World Value vs. Growth Chart suggesting that Europe’s relative performance vs. MSCI ACWI seems similar to that of Value vs. Growth. Image: Morgan Stanley Research
Global Breadth – MSCI ACWI and Global Advance-Decline Line of 73 Country Indices The chart suggests a bullish trend for the weekly global index level breadth. Image: BofA Global Research
MSCI ACWI Value vs. Growth Relative Valuation and Global Manufacturing PMI Chart suggesting that value should outperform growth in the recovery phase. Image: Morgan Stanley Research
Valuation – MSCI ACWI Index’s 12-Month Forward Price to Earnings The risk of a correction is rising, as global stocks continue to rally and become more expensive. Image: Bloomberg
Fund Managers Sentiment and Global Stock Market Returns (MSCI ACWI) Are fund managers too bearish? Two-thirds of global fund managers say this is a bear market rally. Image: Hondo Tomasz
MSCI ACWI and Number of Countries Reporting a New High in Daily Coronavirus Cases The correlation between the MSCI AWCI and new high in daily coronavirus cases (inverted) suggests continued recovery as the coronavirus pandemic fades out. Image: BofA Global Research
U.S. High-Yield vs. Investment-Grade and MSCI ACWI ex-US (Leading Indicator) This chart suggests that the ratio of high-yield to investment-grade bond performance is a leading indicator for stocks. Image: BofA Global Investment Strategy
MSCI ACWI – Global Equities Breadth This interesting chart suggests that a new bull market is underway in global equities. Image: Topdown Charts
Performance of MSCI ACWI Around Global Health Emergencies Historically, the global stock market has bottomed, when the WHO has declared a global health emergency. Image: Ned Davis Research
MSCI ACWI and S&P 500 Forward P/E Multiple This year, the forward P/E multiple for global equities and for the S&P 500 increased by approximately 24%. Historically, multiples contract or remain flat following years of big multiple expansion. Image: Morgan Stanley Research