Global Bull Market Count
Following-on from the above, as alluded-to, there are more and more signs of a new cyclical bull market in global equities. Adding to the list this week is the rapidly growing count of “bull markets” — in this case operationalized as the percentage of stock markets that are up at least 20% off their 52-week low.
The latest reading for this indicator (which tracks the main equity benchmark of 70 different countries) is 61%, which is the highest reading since 2021.
This comes on the back of a falling US dollar, global rate cut rush, big sentiment reset and positioning shakeout back in April, and still cheap valuations for most of the world’s stock markets. In other words, it’s more than just fun with charts…
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