, Columnists
Why Can't Global Equity Markets Match the U.S.?
The recent outperformance isn’t a new phenomenon. Also, REITs get no boost from low rates, equity inequality and EU male resentment.
There are fireworks going off in the stock market.
Photographer: Bloomberg
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Americans have a fair amount to celebrate on this national holiday. Or at least, those who have money tied up in the stock market do. The main U.S. stock indexes closed at all-time highs on the eve of Independence Day. There are many reasons to find this surprising or disconcerting, which I will come to, but it is worth stepping back to look at the awe-inspiring way in which Corporate America continues to outpace the rest of the world.