MCHI - Global Equities Hold Onto 2019 Gains As Headwinds Build
Economic and political risks appear to be rising, but the global stock market remains resilient in terms of maintaining a strong year-to-date performance, based on an exchange-traded fund. Within the major components of this global ETF proxy, however, lies a dramatic evolution of leaders and laggards in recent weeks.
From a top-down perspective, the 2019 rally appears relatively steady and is holding on to nearly all of this year's gains via Vanguard Total World Stock (VT), which is up 14.1% year-to-date through yesterday's close (June 11). Note that VT's increase this year eclipses all but