Bonus Chart - Further Perspective…
In CPI adjusted terms the EURO STOXX 50 looks less impressive, albeit arguably also looks better in terms of potential upside as there remains a large distance to the historical all-time inflation-adjusted highs. The breakout in real terms also looks very compelling.
Similarly, relative to the S&P500 $S&P 500(.SPX)$ it's been in a 24-year relative-bear-market. There have been numerous false dawns along that path, but the recent bounce after a failed breakdown to new lows looks promising, especially after the period of relative stalemate over the past couple of years.
I remain convinced that we are set to see an imminent turnaround in global vs US stocks, and this here is a key part of that story.
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