Non-U.S. stocks outperform U.S. stocks
Grade: Missed the mark
“Coming into the year, we expected non-U.S. economic growth to pick up more than it has relative to the U.S. economy. But U.S. growth still remains stronger, and the S&P 500 Index (up 18.5%) is ahead of the MSCI World Index ex-U.S. (up 15.1%). The dollar has also been stronger than expected, although if the Federal Reserve does cut rates, the value of the dollar will likely fall.”
