- The Morningstar Global Markets Index has risen 4.5% year to date.
- Weighted by market capitalization, our coverage universe looks slightly overvalued.
- Communication services looks cheap, while tech and healthcare are pricey.
Following a flattish first half, global equities enjoyed a fairly strong third quarter, with the Morningstar Global Markets Index now up 4.5% year to date. In aggregate, our equity coverage of roughly 1,500 stocks, now looks slightly overvalued, trading at a 4.5% premium to fair value on a capitalization-weighted basis.
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Daniel Rohr does not own shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.