Global Equities Up On Investor Confidence, Still Below Median

Global equities have been rerated this year, climbing from a recent low of 12x in 2011 to 16x now. While this is still under the long-term median of 17x, it’s another sign of investor confidence in the recovering global economy.

“Japan is highest rated on a trailing PE of 19x. Next most expensive on this crude measure is Australia on 18x, followed by the US on 17x and Europe ex-UK on 17x,” according to a report from Citi. Emerging markets and the UK have the lowest . . .

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