Global equities ex-US were already leading US stocks in 2025 by a wide margin ahead of the trade deal announced this week between the US and Japan. Following the news, shares in Japan surged, providing lift to foreign stocks generally. The US market also rallied on the news, lifting the S&P 500 Index to a new record high. But in relative terms, the international return premium this year has continued to widen, based on a set of ETFs through Wednesday’s close (July 23).
Daily Archives: July 24, 2025
Macro Briefing: 24 July 2025
US existing home sales fell 2.7% in June, more than economists expected. The decline left the number of homes sold at the slowest since Sep. 2024. The year-over-year change was flat while the median home price rose 2% two percent from a year ago to $435,300, a record high for the month of June. “Multiple years of undersupply are driving the record-high home price,” said NAR chief economist Lawrence Yun in a statement.
