Accuvest Market Update Q1 2017

May Country Rankings

 Country Portfolio Notes May 2017

 

  • The United States was up slightly, up 1.05%. Japan was the same, up 1.05%, and Europe as a whole was up 3.53%. Europe was the best performing region for the second straight month. EM wasn’t far behind, up 2.19% during April. EM is still the best YTD, up 14%.
  • All countries returns stayed positive so far for 2017. Canada is the worst performing country YTD, up 0.33%. The best is Poland, up over 31%.. The top countries are Poland (+31%), Turkey (+23.5%), and Spain, Korea, and Mexico (all up over 17%). The average country is up 12.62% YTD.
  • Japan fell 9 spots to 16th This is due to deteriorating Fundamental dat. Japan has a 7.9% ROE vs a country avg. of 9.5%. We are currently hedging our Yen exposure.

April Country Rankings

Country Portfolio Notes April 2017

  • Global equities continued to surge higher in March, with the MSCI ACWI up 1.22%. The average country was up 3.08%, and the range of returns for March, between countries, was 15.50%.
  • The United States was flat, up only 0.10%. Japan was down ‐0.37%, and Europe as a whole was up 4.02%. Europe was the best performing region during the month. EM was the next best, up 2.52% during March. EM is also the best YTD, up 11.44%.
  • China is now the #1 ranked country. It exhibits the best Fundamental score, 3rd best Value score, and 12th best Momentum score. Germany and Austria continue to be the highest ranked European countries, taking the 3rd and 4th ranks

March Country Rankings

Country Portfolio Notes March 2017

 

  • Global equities continued to surge higher in February, with the MSCI ACWI up 2.81%. The average country was up 2.04%, and the range of returns for February, between countries, was 8.50%.
  • The United States was up 3.86%, Japan was up 1.12%, and Europe as a whole was up 1.19%. Europe was again, the worst performing region during the month. EM was the best, up 8.70% YTD.
  • Israel surged to the top of the rankings and is now ranked #2 overall. Israel has the best Fundamentals, led by the fastest growth in PMI (7.40% vs a country avg. of 1.1%). It also has 17.1% earnings growth compared to a country avg. of 11.2%.

Accuvest Market Update Q4 2016

Investing Insights: Why Global and Why Now

Here is a look as to why investors should re-think their overweights to the U.S. right now.

Since 1970, there have been five periods where the U.S. has outperformed International markets, and five periods where International has outperformed the U.S. The average cycle length for the U.S. outperforming is 68.6 months with an average outperformance over International markets of 79%. Our current U.S. outperformance cycle is over 107 months, the longest we’ve seen since 1970 (as far back as the data goes).

PDF imageWhy Global and Why Now

February Country Rankings

PDF imageFebruary Portfolio Notes

  • Global equities started the year off strong in January, with the MSCI ACWI up 2.73%. The average country was up 4.04%, and the range of returns for January, between countries, was 23.44%.
  • The United States was up 2.04%, Japan was up 3.72%, and Europe as a whole was up 2.08%. Europe was the worst performing region during January, while Pacific ex Japan (+5.68%) and EM (+5.47%) were the best performing regions.

January Country Rankings

Our latest Country Rankings are out. See below for some general comments and click the link to see more details.

  • Global equities finished strong in December, with the MSCI ACWI up 2.16%. The ACWI finished the year up 7.86%, with the average country up 6.63% in 2016. The range of returns for the year, between countries, was 91.10%.
  • China fell from the #1 rank to now ranked #5. During December, China was down -4.09%, joining Hong Kong (-6.39%) as the two worst performing countries.
  • During 2016, Europe was the only region to return negative performance, -0.40%. However, it was the best performing region in December, up 5.24%.

 

PDF imageJanuary Country Portfolio Notes

 

December Country Rankings

Our latest Country Rankings are out. See below for some general comments and click the link to see more details.

  • Global equities were slightly positive in November, with the MSCI ACWI up 0.76%. The ACWI is up 5.58% YTD, with the average country up 4.14% YTD. The range of returns for the year, between countries, is 89.52%.
  • Dispersion among country returns is increasing. Two of the last three months have exhibited ranges greater than 40%. The last time we had a greater than 40% range in a given month was in 2008.
  • The United States continues to fall in our rankings. The United States is now currently ranked 15th. It has a Price/Book ratio is 2.8x vs a country avg. of 1.8x, and a Forward 12 month P/E of 17.20x, with the country avg. at 14.10x

PDF imageDecember Country Portfolio Notes

 

 

 

 

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