It was a bullish month for most world equity markets, with net monthly changes ranging from +5.9% (South Africa), +3.3% (Russia), +2.7% (Germany), +2.1% (China), +1.2% (Brazil), +1.1% (Australia), +1.0% (Argentina), +0.7% (USA), +0.2% (Japan), to -0.6% (India)
It was a bullish year for most world equity markets, with net monthly changes ranging from +38.0% (South Africa), +33.7% (Brazil), +26.2% (Japan), +23.0% (Germany), +20.5% (Argentina), +18.4% (China), +13.0% (USA), +9.1% (India), +7.1% (Australia), to -4.0% (Russia).
Lets take our regular look at ten of the world equity markets
USA - Dow
Germany – DAX
Japan – Nikkei
Brazil – Bovespa
Russia – RTSI
India
China – Shanghai comp'
South Africa
Argentina
Australia - AORD
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Summary
For December...
Nine world world equity markets were net higher, with one net lower.
The USA, Brazil, India, South Africa, Argentina, and Australia broke new historic highs.
Nine markets are trading above their respective monthly 10MA, the exception being Russia.
Eight markets have positive monthly momentum, the two exceptions being Russia and India
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For 2025...
Nine world equity markets were net higher, with one net lower
Eight markets broke new historic highs, the two that didn't... Russia and China.
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Final note
It was a net bullish month, for what was a net bullish year, for the collective of world equities. Most markets are powering upward, trading at/near historic highs.
I'm sure you can give a hundred reasons why 2026 might be net bearish, but we're already seeing the central banks attempting to juice asset prices. The US Fed has spun up the printers, throwing $40bn at the capital markets each month, and we can be sure that number we be increased later this summer/fall.
I think 'the game' continues into 2027, not that it will matter for tens of millions in North America and Europe, whose lives have already fallen to pieces. They don't own any stocks, and are instead loaded with debt.
We'll surely see a few geo-political wild cards this year, and whilst that will adversely affect equities, it won't likely be for very long.
Despite my grander overview... not so much one year at a time, as taking one day at a time.
*the next post on this page will likely appear 4.15pm EST on Friday, January 2nd, 2026
