MSCI All Country World Index (ACWI) Dividend Yield Less U.S. 10-Year Yield When the spread has been greater than 1%, it has been a good support for the MSCI All Country World Index. Image: Exane BNP Paribas
MSCI All Country World Index (ACWI) – Period of Consolidation Exane is bullish and suggests that the MSCI ACWI might be nearing an end to this period of consolidation. Image: Exane BNP Paribas
Japan Corporate Profits Leads MSCI World EPS This chart suggests that Japan corporate profits leads MSCI World EPS by 7 months. Image: Nordea and Macrobond
MSCI All Country World Index (ACWI) Leads Global GDP This chart suggests that the MSCI All Country World Index (ACWI) leads Global GDP by 6 months. Image: Ken Fisher
MSCI Emerging Markets and South Korea Export Volumes Less export volumes are not good news for emerging markets. Image: Nordea and Macrobond
Global Manufacturing PMI and MSCI World Index The chart shows a pretty good correlation between Global Manufacturing PMI and the MSCI World Index. Stocks and PMI tend to move together. Image: Charles Schwab
MSCI Emerging Markets Index vs. World Semiconductor Sales This great chart suggests that world semiconductor sales lead the MSCI emerging markets index by 3 months. Very interesting chart before investing in emerging market equities. Country weights of the MSCI Emerging Markets Index: 33% China, 13.02% Korea, 11.35% Taiwan. Image: Nordea and Macrobond
MSCI ACWI ex-U.S. and S&P 500 Index U.S. equities have significantly outperformed the rest of the world in recent years, but this has not always been the case. You may also like “Trailing 12-month Return Differential between U.S. and non-U.S. Stocks.” Image: ClearBridge Investments
Performance – Value vs. Growth The U.S. market is experiencing outperformance in growth sectors driven by innovation and strong earnings, whereas value sectors dominate outside the U.S. due to slower earnings growth and differing economic dynamics. Image: Goldman Sachs Global Investment Research
Developed Market Valuations While the macroeconomic outlook has weakened, the U.S. stock market’s forward P/E ratio has moved back toward pre-Liberation Day levels. Image: TS Lombard
S&P 500 Drawdown in DXY Dollar Index The U.S. equity drawdown has caused major losses for non-U.S. investors, as falling stock prices and a weaker dollar combined. This has prompted many to reconsider their currency risk strategies and exposure to U.S. equities. Image: Gavekal, Macrobond