LIN - ClearBridge International Growth ACWI Ex-US Strategy Q2 2025 Commentary
2025-07-18 10:00:00 ET
By Elisa Mazen | Michael Testorf, CFA | Pawel Wroblewski, CFA
Tailwinds Accelerate for Overseas Equities - Market Overview
International equities maintained positive momentum in the second quarter as Europe signaled progress on fiscal stimulus and reform measures and investment flows into the region increased. The benchmark MSCI All Country World Ex-U.S. Index advanced 12.0%, besting its U.S. counterpart, the S&P 500 Index (+10.9%), for the second-straight quarter. Non-U.S. currencies continued their rally against the dollar with developed market currencies up anywhere from 4% for the Japanese yen to 11.5% for the Swiss franc with the U.S. Dollar Index nearing a three-year low. In a sign of strengthening local market conditions outside the U.S., the MSCI ACWI Ex-U.S. Small Cap Index jumped 17.2% while the MSCI Emerging Markets Index advanced 12.0%....
ClearBridge International Growth ACWI Ex-US Strategy Q2 2025 Commentary