A shrewd “go-anywhere” investor’s macro awareness extends beyond the U.S. border. On The Macro Show this morning, Keith McCullough and Daryl Jones discussed two surging overseas markets that aren’t reliant on AI-dependent narratives.
“Nobody talks about it. Nobody whines about it, certainly. But look at this,” McCullough says of Japan’s Nikkei Index. “Way better than the Nasdaq. If you really need to be long stocks, why weren’t you long Japanese stocks? Up 7% in a month. Nasdaq’s not up 7% in a month.”
Meanwhile, Germany’s DAX Index also hit an all-time high today.
“It’s a capitulation signal for big hedge funds,” explains Hedgeye’s CEO. “They came into yesterday covering the crap out of all their QQQs, their SPYs, their IEWMs. When the people who run the place have to take exposures a different way, they woke up and they bought the Nikkei, they bought the DAX.”
Watch the full clip above.
