Bespoke's Country Snapshot

To start off the month, below we highlight the trading ranges and historical P/E ratios of ten major country indices.  As shown below, all indices except China made a nice bounce in the final week of November.  European indices saw some of the biggest gains, and interestingly, their valuations stayed relatively low.  The same can't be said for the P/E ratio of the S&P 500.  As shown in the first chart below, the S&P 500's current trailing 12-month P/E is now higher than it was when the market peaked on October 9th.