US stock market capitalization accounts now for 74% of the MSCI World Index. New ATH.
Since the end of the 2008 Financial Crisis, this percentage has increased by ~25 points. By comparison, Europe and Japanβs share have dropped by ~15 and ~5 percentage points, respectively.
As a result, the US' share of global market cap is now 4 times larger than Europe and Japan combined.
This comes as the S&P 500 has rallied 450% over the last 15 years compared to a 70% and 310% gain of the Euro Stoxx 50 and Nikkei 225.
Source: The Kobeissi Letter, SG Cross Asset Research, Factset
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