The U.S. stock market has rallied impressively off of its February lows. And in recent days, it has found itself trading roughly -1% below its all-time highs. And while their may be no alternative, and the United States may be the cleanest dirty shirt in the global capital market laundry basket, it’s still a dirty shirt. With this in mind, it is worthwhile to consider how the rest of the world is faring relative to their all-time highs. For maybe the cloud of dust that has been swirling around the U.S. stock market shirt has become sufficiently nasty that those other dirty shirts around the world might be looking relatively cleaner by comparison.
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