Hunt for Global Value

(1) The widespread consensus. (2) Opportunities overseas. (3) Dollar-based vs. currency-hedged investors. (4) S&P 500 and Fed’s bond holdings still joined at the hip. (5) Draghi has been Fairy Godfather of EMU stock markets. (6) Abenomics has worked for Japanese stocks. (7) PBOC good for Shanghai-listed stocks. (8) Fundamentals don’t matter as much if central bank is easing. (9) In some countries, fixed-income investors are reaching for zero. (10) The US isn’t cheap. (11) Value traps. (12) Falling earnings.