Every month we calculate US equity markets  using eight different metrics. We now also update European market valuations, using data provided by Morgan Stanley.  Last month’s European market valuation data can be found at the following link.

The charts below ignore all the noise made by important European officials such as the Estonian cultural minister ; almost (basically all) the quantitve indicators indicate a very cheap European market. However, valuations overall have gone up as the global market has rallied this year. In comparision to the US, Europe trades at a discount, although this has histrotically been the case.

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