CNBC’s Kelly Evans just tweeted out this fascinating chart from Miller Tabak showing various world stock markets as a percentage of their all-time highs.
Virtually no market is near its all-time high, but it’s extraordinary how well the US is doing, despite having been in a low-growth, secular bear market for over 12 years.
It’s a testament to what hedge fund manager Ray Dalio calls the “beautiful deleveraging” — the actions taken on the part of the Treasury and the Fed to make sure the bottom hasn’t fallen out.
Photo: Kelly Evans, Miller Tabak
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