Performance – U.S. vs. Developed Market (Ex-U.S.) Relative Returns How long will U.S. equities continue to outperform developed market equities (ex-U.S.)? Image: BofA Global Investment Strategy
Performance – Emerging Markets vs. Developed Markets How long will emerging market equities continue to underperform developed market equities? Image: Richardson Wealth
Developed Market Long-Only Flows Why do equity investors hit the sell button? Image: BofA Global Investment Strategy
Performance – U.S. vs. Developed Market Equities ex-U.S. Price Relative How long will U.S. equities continue to outperform the rest of the world? Image: BofA Global Investment Strategy
Emerging Markets vs. Developed Markets Growth Differential The growth cycle usually drives emerging markets. Image: Goldman Sachs Global Investment Research
Valuation – CAPE Ratio of Major Developed Market Equities U.S. equities are at significantly higher valuations than international equities. Image: Deutsche Bank
2020 Stimulus as % of GDP – Emerging Markets vs. Developed Markets The 2020 stimulus is massive, especially in developed markets Image: BofA Global Investment Strategy
Emerging Market Equities vs. Developed Markets Equities Emerging market equities have underperformed their developed market counterparts. Image: Credit Suisse Research
U.S. vs. Developed Market Equities (ex-US) Price Relative This chart shows the dominance of the U.S., as the U.S. stock market has grown bigger than the rest of the world’s stock market. Image: BofA Global Investment Strategy
Stocks – U.S. Relative to Developed Markets Excluding U.S. Chart suggesting that the structural outperformance of U.S. stocks is vulnerable to an industrial recovery. Image: BCA Research