Global Markets Update: Monday, December 17, 2012

 
International stocks have made a big comback of late.  We have seen compelling international valuations this year, but have had to raise cash several times due to negative momentum.  This trend may be reversing.
 
China has picked up momentum of late, up 2.1% last week, as their new leader seems very willing to focus on increasing the standard of living for the country's citizens.  This would bode well for the entire region that depends on the ability to sell to this huge sponge of consumers.
 
Here in the US, the gap between Mid Cap Growth, up 14.3% this year, and Small Cap Growth, up only 9.6%, is very interesting.  Mid Cap Growth leads all style boxes this year.  Looking at the sectors, Financials, up 22.5% year-to-date, and Consumer Discretion, up 19.6%, seem determined to close out the year as the top two US sectors.
 
 
Keith Hays & Justin Wood
 
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