Below we update our Global Equity Index Trading Range Screen, which is similar to our Commodity Trading Range Screen. We show a variety of stats for global indices, with local-currency trading ranges, recent performance in USD and local currency, relative size (USD market cap), fundamental stats, and recent trends in volatility (both realized and implied). As shown global equity indices are generally trending gently higher, well off 52 week highs but no longer deeply oversold as they have been at various points since July. There’s a healthy dispersion in fundamental stats, with both EM (Brazil, H-Shares, Taiwan, Korea) and DM (Stoxx 50, Nikkei 225) trading well below annual sales; there’s also tremendous variation in yield with Brazil, Australia, Sweden, and New Zealand all throwing off dividends yields over 4%. New Zealand is itself very interesting as the index has positively exploded higher over the past week, boosted by a major pop higher in the NZDUSD cross (see our Currency Trading Range Screen). Kiwi equities also have exceptionally low volatility and are closest to their 52-week highs of any index in our screen.
For more trading range screens and analysis, start a trial to our Bespoke Premium or Bespoke Institutional packages. You can learn about packages and pricing here.