Vermilion Int'l Compass: Global Equity Strategy

MSCI ACWI With Bullish YTD Downtrend Reversal, More Evidence Suggesting the Lows are In In our previous Int'l Compass (Nov. 17) we upgraded our global equity outlook to neutral due to a combination of factors, including bullish YTD downtrend reversals on the MSCI ACWI ex-US (ACWX-US) and EAFE (EFA-US) indexes, and uptrend violations on the US dollar (DXY) and 10-year Treasury yield. A continued melt-up is not out of the question, and now the MSCI ACWI (ACWI-US) is reversing topside its YTD down...