Animal Spirits Going Global as MSCI World Gauge Spikes to Record
- Stocks from Brazil to India join the U.S. in hitting new highs
- Broadening gains are vote of confidence in the world’s economy
This article is for subscribers only.
It may have been made in America, but the bullish sentiment that has been propelling U.S. stocks all year is starting to make its presence known elsewhere.
Suddenly buoyant markets in places like Sao Paulo and Tokyo are breathing life into global benchmarks that had been laggards for most of the past two years, pushing MSCI’s all-country world gauge to a fresh high Thursday for the first time since Jan. 26, 2018. While the heavy lifting was done stateside, where the S&P 500 has returned 28% this year, other markets are getting in on the act.