World Markets Update: Blastoff To New Highs!


Here’s a weekend snapshot of major world indexes. The table at right shows the performance over the past week.

All six of the major world indexes closed the week with extravagant gains, with four of the six setting new interim highs. The Far East fared best with the Hang Seng up 7.71% and the Shanghai up 5.06%. Even the chronically underperforming Nikkei gained 4.60%. The US and Europe finished in the second tier, with the DAX at the bottom despite its 2.32% advance.

Thank you, Ben Bernanke! Asset inflation is off to a brilliant start!

The chart below illustrates the comparative performance of World Markets since March 9, 2009. The start date is arbitrary: The S&P 500 hit a low on March 9th, the Nikkei 225 on March 10th, the DAX on March 6th, the FTSE on March 3rd, the Shanghai Composite on November 4, 2008, and the Hang Seng 4.4 months earlier on October 27, 2008. However, by aligning on the same day, we get a better sense of the present-day synchronous behaviour of the markets than if we align the lows.


A Longer Look Back

Here’s a similar chart starting from the turn of 21st century — this time with the addition of the Bombay SENSEX, which has been a dramatic outperformer and closed the week up 4.86% for a new all-time high.



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