QVMS - Due To December's Split Personality This Week May Launch A Year-End Rally
- Even though the S&P 500 eked out a new all-time high last Friday, the other three major indexes are still well below their record peaks as we lurch toward Christmas.
- This year, so far, the MSCI U.S. index is up 20.8% through last Monday, while the All-Country World ex-US MSCI is up just 2.3% in U.S. dollar terms, although it tallied +8% in terms of their own currencies.
- During the pandemic, Value stocks were viewed more as “re-opening” trades, but that re-opening keeps getting kicked down the road.
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Due To December's Split Personality, This Week May Launch A Year-End Rally