Global Stocks Jump To A New Record High
Rotation out of U.S. markets has fueled a boom in international equities
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.
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