I stumbled across this Goldman Sachs chart that highlights global equity valuations. Most of the world is in the middle of the range but US stocks are above the top of the 90th percentile. I'm glad they stripped out mega-cap tech as well because it highlights that it's not just a few names driving it but it's broad based.
In contrast, emerging markets (12.3x) and China (10.6x) are trading at significant discounts. Value hunters might be eyeing these markets, but they'll need to weigh the cheaper valuations against potential risks.
China has squeezed higher this month but that momentum is fading today, in part because of fears of Trump Presidential win.
h/t @mikezaccardi
