Go Global

GLOBAL CALL: Why Are Stock Prices Rising Around The World?

Apr 27, 2026 3 min read paid

Stock markets around the world sold off sharply after the US and Israel attacked Iran on February 28. Despite the blockade of the Strait of Hormuz since the war began, global stock prices have rebounded since the end of March. That is surprising, given that many countries' economies are vulnerable to stagflation and even recessions if oil prices remain elevated and oil shortages occur. Even more surprising is that

Ed Yardeni

MARKET CALL: Yogi Was Right: 'The War Ain't Over Till It's Over'

Apr 12, 2026 3 min read paid

In his seminal work, On War (1832), Carl von Clausewitz famously wrote: "War is the continuation of politics by other means." The US and Iran agreed to a ceasefire in their war and to talks seeking a diplomatic solution. However, their talks failed, and now they are both resuming the war. On Sunday, US Central Command said the Navy will blockade all maritime traffic entering and exiting Iranian

Ed Yardeni
Toby Hearst

Straitjacket: Iran's Chaos War Strategy

Mar 5, 2026 4 min read

On Tuesday, we warned: "We've been expecting a pullback due to excessive bullish sentiment, but now we expect a 10% correction from the high. It's hard to imagine that the IRGC won't use drones and speed boats to maintain their effective blockade of the Strait. If they are successful in doing so, the correction could be closer to 15%." When the war

Ed Yardeni

On The Fog Of War & Having Second Thoughts

Mar 3, 2026 4 min read

Our initial reaction to the latest war in the Middle East was that it isn't likely to last long. However, wars are hard to predict. The fog of war can be very disorienting. The US and Israel killed the top leaders of Iran's regime during the first day of their attacks on the country. So we thought that might set the stage for a short war.

Ed Yardeni

Update On AI Derangement Syndrome & Its Consequences

Feb 25, 2026 3 min read paid

Last year's impressive stock market rally, which began on April 9 (when POTUS postponed his Liberation Day tariffs), was fueled by AI Optimism. It turned into AI Fatigue late last year and, in recent weeks, into AI Fear. Now it's AI Derangement Syndrome. For a while, AI was widely thought of as a productivity-enhancing tool. Now the worry is that it has turned into a

Ed Yardeni

The Great Valuation Rotation Of The Roaring 2020s

Feb 17, 2026 4 min read paid

For most of the time since the pandemic, large-cap stocks have outperformed their smaller counterparts in the US stock market. That is, the LargeCap S&P 500 index has outperformed the MidCap S&P 400 and SmallCap S&P 600, collectively the “SMidCaps.” That started to change late last year as investors increasingly concluded that the former's earnings outlook had become riskier and its

Ed Yardeni

Time To Sell America?

Jan 26, 2026 4 min read paid

The financial press was flooded with "American Exceptionalism" narratives throughout 2023 and 2024, and into early 2025. The April 15, 2024 cover story of The Economist was titled, "Riding High: The lessons of American exceptionalism." On May 25, 2024, the cover story of The Economist was "The almighty dollar." It focused on the dollar's enduring global dominance. The "Sell America"

Ed Yardeni

MARKET CALL: So Far, So Good For Our Rebalancing Call

Jan 18, 2026 5 min read

Last year, in the December 7 QT, we wrote: "It no longer makes much sense for us to continue recommending overweighting the Information Technology and Communication Services sectors in an S&P 500 portfolio .... The same can be said about overweighting the United States in the All Country World MSCI portfolio." It was time to rebalance, in our opinion, because the two sectors accounted for a remarkable

Ed Yardeni

Will Emerging Markets Outperform Again In 2026?

Dec 31, 2025 3 min read paid

The Emerging Markets (EM) MSCI stock price index may outperform both the US MSCI stock price index and the Developed Countries ex-US MSCI stock price index in 2026. It outperformed the former in 2025 but underperformed the latter and many of its constituents. The broader EM outperformance we expect in 2026 might last for a few years. That's because advanced economies have, on average, stagnated in both

Ed Yardeni

MARKET CALL: The Impressive S&P 493 Ready For Broadway In 2026

Dec 13, 2025 4 min read paid

The S&P 500's Magnificent-7 might be less magnificent in 2026 as their fierce competition in the AI race starts to erode the monopolies they have enjoyed in search (Google), software (Microsoft), retailing (Amazon), advertising (Meta), electric vehicles (Tesla), smartphones (Apple), and GPU chips (Nvidia). The beneficiaries of that competition are likely to be the S&P 500's Impressive 493. A week ago,

Ed Yardeni

MARKET CALL: Rebalancing Domestic & Global Stock Portfolios In 2026

Dec 7, 2025 4 min read paid

It no longer makes much sense for us to continue recommending overweighting the Information Technology and Communication Services sectors in an S&P 500 portfolio, as we have since 2015. The same can be said about overweighting the United States in the All Country World (ACW) MSCI portfolio, as we have been since 2010. Consider the following: (1) Rebalancing S&P 500 portfolio. The problem is that the

Ed Yardeni

Will Next Year Be Another Good Year To Go Global?

Oct 13, 2025 4 min read paid

Go Global has outperformed Stay Home so far this year. Based on FTSE data, the US stock market index (up 11.8% ytd) has underperformed the World index (13.4%) so far this year in local currency (chart). Its underperformance has been worse in US dollar terms since the greenback has been weak this year. Among the outperformers this year, in local currency, have been South Korea (56.0%), Spain

Ed Yardeni
David Yardeni

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