Early Morning with Dave

Early Morning with Dave

Share this post

Early Morning with Dave
Early Morning with Dave
Global Stocks Jump To A New Record High
Copy link
Facebook
Email
Notes
More

Global Stocks Jump To A New Record High

Rotation out of U.S. markets has fueled a boom in international equities

David Rosenberg's avatar
David Rosenberg
Jun 04, 2025
∙ Paid

Share this post

Early Morning with Dave
Early Morning with Dave
Global Stocks Jump To A New Record High
Copy link
Facebook
Email
Notes
More
1
Share

Highlights

• Rotation out of U.S. markets has fueled a boom in international equities

• China continues to play hardball in trade negotiations

• Treasuries look attractive at current yields

• Bank of Canada expected to pause today — a likely mistake

Key Takeaways

• International Equities Win From Diversification Push: Global stocks hit a new record high overnight, with the MSCI All Country World Index taking out its prior February peak. It has been the rotation into ex.-U.S. markets that has driven the move, with the group outperforming the U.S. by +11 percentage points, as investors diversify abroad thanks to continued elevated levels of trade tensions.

Keep reading with a 7-day free trial

Subscribe to Early Morning with Dave to keep reading this post and get 7 days of free access to the full post archives.

Already a paid subscriber? Sign in
© 2025 Rosenberg Research
Privacy ∙ Terms ∙ Collection notice
Start writingGet the app
Substack is the home for great culture

Share

Copy link
Facebook
Email
Notes
More