Japan Trading At A Discount To Other Developed Markets
Japan is one of the few developed economies whose overall trailing PE is below the long run median, due to stronger EPS growth than in Europe or the US, though it has the highest CAPE worldwide.
“The global PE based on trailing EPS has rerated back up to the 17x long run median. With EPS going nowhere over the period, this PE expansion has accounted for all the 46% increase in global equities since 2011,” says a recent Citi report. The US and Europe ex-UK are above their long run medians . . .
This content is exclusively for paying members. Access all of our content on including years of timeless investment news and in depth analysis for only a few dollars a month by signing up here while also supporting quality content and journalism, or learn more about our premium content here
If you are subscribed and having an account error please clear cache and then cookies if that does not work email firstname.lastname@example.org and we will get back to you as quick as humanly possible