Year-to-date, the #MSCI #EMU index has posted a total return of 15% in dollar terms. The U.S. MSCI has managed just 12%. Go back to early November, when #vaccine #Covid # hopefuls began to drive markets, and the performance differential is even more pronounced.

Eurozone #equities have returned 44%, compared to 31% for US equities. The eurozone has outperformed despite a later start to vaccination and a slower start to its vaccination programs. The consequence of these delays is that European countries are only now beginning to ease their restrictions on economic activity.

This suggests that #eurozone growth has room to surprise to the upside, and that eurozone stocks can still generate further gains. See analysis at https://www.fynsa.cl/newsletter/mas-ventajas-por-delante/