Global stock markets are inversely correlated with the US dollar over the last year
While there are some areas that could get a Goldilocks bid under the right circumstances (including a strong US dollar), global stock markets as a whole are not one of them. This chart flips Uncle Buck over to his inverse self and tracks global stock markets (as represented by DJW) pretty darn well over the last year.
So it will be important to determine what this US dollar rally is and if it is just a bear rally (that is all I am reading into it now, even as we planned for it and have a higher target in the short-term) there would come a time to once again favor global over US, on a relative basis at least. But for now, global stock markets (on balance) are doing what the correlation says they should do.
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