Valuation – MSCI U.S. 12-Month Forward P/E Relative to MSCI World Ex. U.S. There is a prevailing sentiment suggesting that U.S. equity valuations are not currently appealing. Image: J.P. Morgan
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
MSCI World Value vs. Growth Will the outperformance of value stocks over growth stocks persist? Image: Goldman Sachs Global Investment Research
South Korea Exports vs. MSCI World EPS South Korea’s exports tend to lead global earnings. Image: J.P. Morgan
Cumulative Performance of MSCI World Around Hiking Cycles Historically, global equity markets have performed well during hiking cycles. Image: J.P. Morgan
Valuation – Price/Earnings Ratio, S&P 500 vs. MSCI World Ex-U.S. Should equity investors consider overseas stocks? Image: Morgan Stanley Wealth Management
MSCI World Value Index/MSCI World Growth Index vs. Global Agg. Treasuries Index, Yield to Worst Value should outperform Growth and follow the rise in global rates. Image: Morgan Stanley Wealth Management
Performance – MSCI World Growth Index / MSCI World Value Index Will global growth stocks continue to outperform global value stocks? Image: Bloomberg
Performance – MSCI World Ex-U.S. and MSCI U.S. It has not paid to bet against U.S. stocks so far this year, as the gap between the U.S. stock market and stocks from the rest of the world continues to widen. Image: The Daily Shot
Valuation – U.S. 10-Year Real Yield and MSCI World Index Forward Price/Earnings Ratio The price of global equities is expected to fall, if U.S. real yields rise. Image: Morgan Stanley Wealth Management