While the S&P 500 is up more than 15% from its January 2018 high, it’s notable that we still haven’t seen equities break out on a global scale.
Below is a chart of the Bloomberg World Equity Market index, which is a cap-weighted index made up of nearly 5,000 publicly listed companies around the world (including the US). While the S&P 500 is up more than 15% from its January 2018 high, it’s notable that we still haven’t seen equities break out on a global scale. As shown, the Bloomberg World Index is now just a hair below its prior all-time highs (22 basis points to be exact).
(Click on image to enlarge)
(Click on image to enlarge)
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