Markets

Emerging Market Equities Are On Fire In The 2Q April 13, 2015

Posted by Knowledge Leaders Team in Markets

The average stock in USD terms in the MSCI Emerging Market Index is up an impressive 6.2% in just 8 trading days so far in the second quarter. This compares to 2.5% for MSCI Developed Market Index. On a country basis, China is nearly 18% higher QTD.

Read More

Surge in European Equity Valuations April 09, 2015

Posted by Knowledge Leaders Team in Markets

A month ago, we highlighted the continued trend of high valuations (P/CF in particular) for much of the developed markets.  No region better illustrates the extremity of this trend than MSCI Europe.

Read More

Leadership Trends Among Developed World Sectors April 07, 2015

Posted by Knowledge Leaders Team in Markets

Regional leadership trends have changed recently in the global equity market.  So far this year, in USD terms, Developed Asia-Pacific is the best performing region in the developed world, with Europe second and North America last.  In the following tables we show regional performance by sector.

Read More

Don’t Waste Your Time On Commodity ETFs April 06, 2015

Posted by Knowledge Leaders Team in Markets

Oil tends to get all the headline but commodities in general continue to take a beating. The Reuters CRB Continuous Commodity Index is down nearly 24% over the past year. Our commodities diffusion index is at its lowest level since February 2009.

Read More

1Q 2015: Winners and Losers April 01, 2015

Posted by Knowledge Leaders Team in Markets

As we mark the passage of the first quarter, we thought it useful to get our bearings with a quick, general summary of what has worked (or not) so far this year.

Read More

“Well, you know this is a bull market [in government bonds]!” April 01, 2015

Posted by Knowledge Leaders Team in Markets

The action in the US government bond market over the last several weeks has reminded us of a quote from one of our favorite books on investing, ”Reminiscences of a Stock Operator”. Those familiar with Reminiscences will recall several scenes in which young traders are gathered at a brokerage house exchanging ideas and contemplating every tick

Read More

Asia is Still Outperforming Europe March 31, 2015

Posted by Knowledge Leaders Team in Markets

With the continued outperformance of Asian (namely Japanese) stocks, we are surprised to still only be hearing about the merits of the long Europe trade.

Read More