Relentless outperformance of US equities likely to end

The far superior performance of equities in the US than in the rest of the developed world since the global financial crisis (GFC) can be mostly attributed to healthier growth in corporate earnings. It owes little to a shift in their relative valuation. Nonetheless, we don’t expect the outperformance to last.

Subscriber content

Read this in full, free

Start a free trial and use one of your 10 free starter credits to unlock this piece.


Free. 10 articles. No card required.
By completing this form you are agreeing to our Terms and Conditions for the provision of a free trial of Capital Economics' services. We take your privacy seriously and will not share your details with others without your consent. By providing your details, including your email address, you are consenting to Capital Economics sending you macroeconomic commentary and analysis. You can unsubscribe at any time. See our Privacy Policy for more information.

Already a client or trialist? Log in to read this.