The U.S. has been the best house on the block. U.S. stocks have significantly outperformed international stocks since the financial crisis. But this year, for the first time in a long time, international markets are outperforming the U.S. Our lonely stock market rally is not so lonely any longer. Are we on the verge of a change in leadership? Is it time to dust off the passport in search of overseas opportunities?
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The third quarter was a good one for investors, with nearly all financial markets posting solidly positive returns. Year-to-date, stocks, bonds, and real estate are all up nicely. The financial markets have shown remarkable resiliency, having bounced back from one worrisome issue after another. Whether it was the slowdown in China, the devaluation of the yuan, plummeting oil prices, concerns about an overly- aggressive Fed, or the surprise..
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It was a tale of two halves in the first quarter of the year for global financial markets. Stock markets plunged early on, falling 10% to 15% or more – in some cases nearly entering bear market territory – but then sharply reversed course, staging a furious rally into quarter-end. Emerging-markets stocks led the charge, finishing ahead 5.9% for the quarter after being down 10.9% in the first six weeks of the year. Largecap U.S. stocks also..