U.S. Exceptionalism Drives Nasdaq Outperformance Amid Global Market Divergence
Wall Street's tech-heavy Nasdaq index has surged 31% since early April, outpacing global peers like Germany's DAX and Japan's Nikkei. The S&P 500 followed closely with a 24% rally, both hitting record highs this week. This divergence underscores the resilience of U.S. markets despite mounting debt concerns and trade war rhetoric.
PineBridge Investments' Hani Redha attributes the strength to structural advantages: "Deregulation continues to fuel a productivity supercycle unmatched by other developed economies." Treasury demand remains robust, contradicting predictions of capital flight from U.S. assets. The data suggests investors still view American markets as the primary engine of global growth.