This week’s chart reveals a significant change: for the first time in many years, international equity markets have outperformed the US equity market by over 11% in a single quarter. The last time we saw such a substantial difference in favor of international markets was in 1988. While it’s crucial to note that one quarter of performance does not guarantee future results, this trend may reflect growing concerns about the US economy, tariff issues, and the fact that international markets are currently trading at a considerable discount compared to US markets. Many portfolios in the US are heavily underweighted in international equities, making it an opportune time to reassess your portfolio.