Here's Why All The Big World Markets Have Rallied This Year
Nov 20, 2013, 15:20 IST
This is a cool chart from Morgan Stanley.
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It shows why the world's biggest markets have rallied this year. In the case of US and European stock markets, it's largely about higher PEs, whereas in Japan it's largely about higher underlying earnings.
Emerging markets, obviously, have seen declines on both the PE and EPS front.
