The chart below was posted in our Bespoke Report newsletter last Friday and we’re re-publishing it on the blog today…

  • The recent rally for equities has been on a global scale.
  • While many rallies for the US market over the last few years weren’t accompanied by rallies elsewhere around the world, the current breakout has been broad based.
  • Below we show the year-to-date performance (in local currency) for 75 country stock markets.
  • Of the 75 countries, 58 (77%) are up on the year, and the average country is up double-digit percentage points (+10.8%).
  • What’s most notable about global equity market performance is how strong the “major” countries have been.
  • Six of the seven G7 countries rank in the top 25 this year, and four of the G7 are up 23%+, including the US.
  • The major emerging market countries — the BRICs — all rank in the top half, with Russia up the 2nd most of any country at +37.4%.
  • Only two countries are down more than 10% YTD — Nigeria (-16.3%) and Lebanon (-22.3%).

Year-to-date gains for equities can definitely include an asterisk given the low-base following last year’s big Q4 sell-off, but even 12 and 24-month returns are starting to look strong.  Sign up for Bespoke’s “2020” special and get our upcoming Bespoke Report 2020 Market Outlook and Investor Toolkit.

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