Our weekly Global Macro Dashboard is a useful tool for macro or international investors looking for regional and/or country coverage. You can read more about the report here if you’d like to take a look.
In the report, we provide 10-year relative strength charts of each country’s stock market versus the MSCI World index. This tells you how well each individual country’s stock market is performing versus the rest of the world.
US outperformance versus the rest of the world has been a major theme of 2018, and our country relative strength charts do a great job of highlighting this theme.
First, take a look below at the relative strength chart of the US (S&P 500) versus the MSCI World index. The US has been outperforming international equities for the entire bull market, but it has really ramped up its outperformance over the last few months.
Of the 22 additional countries that we feature in our Global Macro Dashboard, you won’t find another relative strength chart that looks even remotely similar to the US. Nearly every country continues to see its relative performance versus the MSCI World index trend lower and lower. The US continues to be the place to be when it comes to stocks.