MSCI World Index vs. OECD Unemployment Rate and U.S. Consumer Confidence Chart suggesting that OECD unemployment troughs and very confident U.S. consumers do not generally bode well for global equities. Image: Morgan Stanley Research
World Semiconductor Sales Lead Emerging Markets This chart suggests that world semiconductor sales lead the MSCI emerging markets index by 3 months. This is very interesting 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 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
S&P 500 vs. G10 Excess Liquidity Leading Indicator G10 excess liquidity is still in negative territory, and that’s bad news for U.S. stocks over the next three to six months. As the liquidity backdrop fades, equities lose a crucial support. Image: Bloomberg
Share of Global Market Capitalization The U.S. accounts for just 4% of the world’s population, but it commands 63% of global equity value. Its innovation engine keeps pulling in foreign capital. Global markets, as ever, still move to an American beat. Image: Goldman Sachs Global Investment Research
MSCI Equity Indexes, Total Return in US$ Since Trump’s inauguration, U.S. equities have lagged their global peers, with Europe ahead by 12%, Japan by 17%, and emerging markets by 27%. Image: Gavekal, Macrobond
Foreign Investor Ownership Share of U.S. Equity Market With foreign investors holding a record 18% of U.S. stocks, they are chasing the American dream, piling into U.S. equities on hopes that President Trump keeps the bull run alive. Image: Goldman Sachs Global Investment Research
Monthly Equity Flows – U.S. vs. Non-U.S. U.S. equities have seen the highest monthly inflows on record relative to the rest of the world. Image: Goldman Sachs Global Investment Research
Average Real Equity and Bond Returns Since 1900, equities have significantly outperformed bonds across the western world. Image: Financial Times