Worldwide Wednesday

US Large Cap. outperformance vs. the MSCI World Index has plateaued. We think higher rates domestically would likely benefit ex-US equity performance as well as the average US stock pursuant to our big theme “Mega Cap. Growth vs. Everything Else”

Outside of Singapore and Argentina, very little is compelling in the ex-US equity space.

Post Election, US Large, Mid and Small Cap. shares are outperforming ex-Us counterparts.

US equities have re-asserted leadership, but China and EM are still in a bullish reversal pattern

The technical bullish reversal in Chinese shares remains intact. Now at an accumulation point.

The picture has finally changed for one area of ex-US equities.  In short, stimulative policies out of China have reinvigorated EM share prices

A look at ex-US equity performance with the goal of identifying any significant trend change away from US leadership relative to the MSCI ACWI Benchmark