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Global Index Briefing:MSCI STRG, STEG, & LTEG
Yardeni Research, Inc.
May 18, 2019
Dr. Ed Yardeni516-972-7683
Joe Abbott732-497-5306
Mali Quintana480-664-1333
Please visit our sites atwww.yardeni.comblog.yardeni.com
thinking outside the box
Table Of Contents Table Of ContentsTable Of Contents
May 18, 2019 / Global Index Briefing: MSCI STRG, STEG, & LTEG www.yardeni.com
Yardeni Research, Inc.
All Country World 3US & EAFE 4Europe 5Emerging Markets 6-7Countries A-Z 8-29
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020-5
0
5
10
15
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25
30
35
40
-5
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5/9
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Note: STEG is year-ahead forward consensus expected short-term earnings growth. STRG is year-ahead forward consensus expected short-termrevenue growth. LTEG is five-year consensus expected long-term earnings growth.Source: I/B/E/S data by Refinitiv.
ALL COUNTRY WORLD MSCI STEG, STRG, & LTEG(percent)
LTEG* (12.5)STEG* (7.2)STRG* (4.6)
Figure 1.
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020-5
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-5
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Note: STEG is year-ahead forward consensus expected short-term earnings growth. STRG is year-ahead forward consensus expected short-termrevenue growth. LTEG is five-year consensus expected long-term earnings growth.Source: I/B/E/S data by Refinitiv.
ALL COUNTRY WORLD EX-US MSCI STEG, STRG, and LTEG(percent)
LTEG* (9.3)STEG* (7.0)STRG* (4.0)
Figure 2.
All Country World
Page 3 / May 18, 2019 / Global Index Briefing: MSCI STRG, STEG, & LTEG www.yardeni.com
Yardeni Research, Inc.
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020-5
0
5
10
15
20
25
30
35
-5
0
5
10
15
20
25
30
35
5/9
yardeni.com
Note: STEG is year-ahead forward consensus expected short-term earnings growth. STRG is year-ahead forward consensus expected short-termrevenue growth. LTEG is five-year consensus expected long-term earnings growth.Source: I/B/E/S data by Refinitiv.
S&P 500 STRG, STEG, & LTEG(percent)
LTEG (14.8)STEG (7.2)STRG (5.5)
Figure 3.
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020-10
0
10
20
30
40
-10
0
10
20
30
40
5/9
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Note: STEG is year-ahead forward consensus expected short-term earnings growth. STRG is year-ahead forward consensus expected short-termrevenue growth. LTEG is five-year consensus expected long-term earnings growth.Source: I/B/E/S data by Refinitiv.
EAFE MSCI STEG, STRG, & LTEG(percent)
LTEG* (7.8)STEG* (6.1)STRG* (2.7)
Figure 4.
US & EAFE
Page 4 / May 18, 2019 / Global Index Briefing: MSCI STRG, STEG, & LTEG www.yardeni.com
Yardeni Research, Inc.
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020-10
-5
0
5
10
15
20
25
30
35
-10
-5
0
5
10
15
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5/9
yardeni.com
Note: STEG is year-ahead forward consensus expected short-term earnings growth. STRG is year-ahead forward consensus expected short-termrevenue growth. LTEG is five-year consensus expected long-term earnings growth.Source: I/B/E/S data by Refinitiv.
EUROPE MSCI STEG, STRG, & LTEG(percent)
LTEG* (8.8)STEG* (6.0)STRG* (3.0)
Figure 5.
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020-5
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5
10
15
20
25
30
35
-5
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5/9
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Note: STEG is year-ahead forward consensus expected short-term earnings growth. STRG is year-ahead forward consensus expected short-termrevenue growth. LTEG is five-year consensus expected long-term earnings growth.Source: I/B/E/S data by Refinitiv.
EUROPE EX-UNITED KINGDOM MSCI STEG, STRG, & LTEG(percent)
LTEG* (9.4)STEG* (7.4)STRG* (3.6)
Figure 6.
Europe
Page 5 / May 18, 2019 / Global Index Briefing: MSCI STRG, STEG, & LTEG www.yardeni.com
Yardeni Research, Inc.
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020-15
-10
-5
0
5
10
15
20
25
30
35
40
-15
-10
-5
0
5
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15
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25
30
35
40
5/9
yardeni.com
Note: STEG is year-ahead forward consensus expected short-term earnings growth. STRG is year-ahead forward consensus expected short-termrevenue growth. LTEG is five-year consensus expected long-term earnings growth.Source: I/B/E/S data by Refinitiv.
EMERGING MARKETS MSCI STEG, STRG, & LTEG(percent)
LTEG* (14.1)STEG* (8.6)STRG* (6.5)
Figure 7.
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020-40
-35
-30
-25
-20
-15
-10
-5
0
5
10
15
20
25
30
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-40
-35
-30
-25
-20
-15
-10
-5
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5/9
yardeni.com
Note: STEG is year-ahead forward consensus expected short-term earnings growth. STRG is year-ahead forward consensus expected short-termrevenue growth. LTEG is five-year consensus expected long-term earnings growth.Source: I/B/E/S data by Refinitiv.
EMERGING MARKETS ASIA MSCI STEG, STRG, and LTEG(percent)
LTEG* (13.7)STEG* (8.2)STRG* (6.7)
Figure 8.
Emerging Markets
Page 6 / May 18, 2019 / Global Index Briefing: MSCI STRG, STEG, & LTEG www.yardeni.com
Yardeni Research, Inc.
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020-10
0
10
20
30
40
50
60
70
-10
0
10
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30
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70
5/9
yardeni.com
Note: STEG is year-ahead forward consensus expected short-term earnings growth. STRG is year-ahead forward consensus expected short-termrevenue growth. LTEG is five-year consensus expected long-term earnings growth.Source: I/B/E/S data by Refinitiv.
EMERGING MARKETS LATIN AMERICA MSCI STEG, STRG, & LTEG(percent)
LTEG* (16.8)STEG* (15.8)STRG* (5.9)
Figure 9.
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020-30
-25
-20
-15
-10
-5
0
5
10
15
20
25
30
35
40
-30
-25
-20
-15
-10
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5/9
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Note: STEG is year-ahead forward consensus expected short-term earnings growth. STRG is year-ahead forward consensus expected short-termrevenue growth. LTEG is five-year consensus expected long-term earnings growth.Source: I/B/E/S data by Refinitiv.
EMERGING MARKETS EASTERN EUROPE MSCI STEG, STRG, & LTEG(percent)
LTEG* (12.4)STEG* (-0.2)STRG* (2.2)
Figure 10.
Emerging Markets
Page 7 / May 18, 2019 / Global Index Briefing: MSCI STRG, STEG, & LTEG www.yardeni.com
Yardeni Research, Inc.
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020-80
-60
-40
-20
0
20
40
60
80
100
120
-80
-60
-40
-20
0
20
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80
100
120
5/9
yardeni.com
Note: STEG is year-ahead forward consensus expected short-term earnings growth. STRG is year-ahead forward consensus expected short-termrevenue growth. LTEG is five-year consensus expected long-term earnings growth.Source: I/B/E/S data by Refinitiv.
ARGENTINA MSCI STEG, STRG, & LTEG(percent)
LTEG* (-5.1)STEG* (-11.7)STRG* (-2.2)
STEG capped at -80% and 80%
Figure 11.
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020-10
-5
0
5
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20
25
30
-10
-5
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25
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5/9
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Note: STEG is year-ahead forward consensus expected short-term earnings growth. STRG is year-ahead forward consensus expected short-termrevenue growth. LTEG is five-year consensus expected long-term earnings growth.Source: I/B/E/S data by Refinitiv.
AUSTRALIA MSCI STEG, STRG, & LTEG(percent)
LTEG* (5.3)STEG* (4.6)STRG* (2.1)
Figure 12.
Countries A-Z
Page 8 / May 18, 2019 / Global Index Briefing: MSCI STRG, STEG, & LTEG www.yardeni.com
Yardeni Research, Inc.
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020-20
-10
0
10
20
30
40
50
60
-20
-10
0
10
20
30
40
50
60
5/9
yardeni.com
Note: STEG is year-ahead forward consensus expected short-term earnings growth. STRG is year-ahead forward consensus expected short-termrevenue growth. LTEG is five-year consensus expected long-term earnings growth.Source: I/B/E/S data by Refinitiv.
AUSTRIA MSCI STEG, STRG, & LTEG(percent)
LTEG* (5.0)STEG* (3.4)STRG* (3.3)
STEG capped at 50%
Figure 13.
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020-10
0
10
20
30
40
50
60
-10
0
10
20
30
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5/9
yardeni.com
Note: STEG is year-ahead forward consensus expected short-term earnings growth. STRG is year-ahead forward consensus expected short-termrevenue growth. LTEG is five-year consensus expected long-term earnings growth.Source: I/B/E/S data by Refinitiv.
BELGIUM MSCI STEG, STRG, & LTEG(percent)
LTEG* (12.9)STEG* (9.9)STRG* (0.1)
STEG capped at 50%
Figure 14.
Countries A-Z
Page 9 / May 18, 2019 / Global Index Briefing: MSCI STRG, STEG, & LTEG www.yardeni.com
Yardeni Research, Inc.
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020-15
0
15
30
45
60
75
90
105
-15
0
15
30
45
60
75
90
105
5/9
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Note: STEG is year-ahead forward consensus expected short-term earnings growth. STRG is year-ahead forward consensus expected short-termrevenue growth. LTEG is five-year consensus expected long-term earnings growth.Source: I/B/E/S data by Refinitiv.
BRAZIL MSCI STEG, STRG, & LTEG(percent)
LTEG* (18.2)STEG* (16.8)STRG* (5.6)
Figure 15.
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020-15
-10
-5
0
5
10
15
20
25
30
35
-15
-10
-5
0
5
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15
20
25
30
35
5/9
yardeni.com
Note: STEG is year-ahead forward consensus expected short-term earnings growth. STRG is year-ahead forward consensus expected short-termrevenue growth. LTEG is five-year consensus expected long-term earnings growth.Source: I/B/E/S data by Refinitiv.
CANADA MSCI STEG, STRG, & LTEG(percent)
LTEG* (8.0)STEG* (8.8)STRG* (4.4)
Figure 16.
Countries A-Z
Page 10 / May 18, 2019 / Global Index Briefing: MSCI STRG, STEG, & LTEG www.yardeni.com
Yardeni Research, Inc.
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020-10
-5
0
5
10
15
20
25
30
35
40
45
50
55
60
65
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75
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85
-10
-5
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55
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65
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75
80
85
5/9
yardeni.com
Note: STEG is year-ahead forward consensus expected short-term earnings growth. STRG is year-ahead forward consensus expected short-termrevenue growth. LTEG is five-year consensus expected long-term earnings growth.Source: I/B/E/S data by Refinitiv.
CHILE MSCI STEG, STRG, & LTEG(percent)
LTEG* (26.6)STEG* (6.6)STRG* (6.9)
Figure 17.
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020-5
0
5
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15
20
25
30
35
-5
0
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5/9
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Note: STEG is year-ahead forward consensus expected short-term earnings growth. STRG is year-ahead forward consensus expected short-termrevenue growth. LTEG is five-year consensus expected long-term earnings growth.Source: I/B/E/S data by Refinitiv.
CHINA MSCI STEG, STRG, & LTEG(percent)
LTEG* (16.9)STEG* (15.0)STRG* (8.5)
Figure 18.
Countries A-Z
Page 11 / May 18, 2019 / Global Index Briefing: MSCI STRG, STEG, & LTEG www.yardeni.com
Yardeni Research, Inc.
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020-20
-15
-10
-5
0
5
10
15
20
25
30
35
40
-20
-15
-10
-5
0
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5/9
yardeni.com
Note: STEG is year-ahead forward consensus expected short-term earnings growth. STRG is year-ahead forward consensus expected short-termrevenue growth. LTEG is five-year consensus expected long-term earnings growth.Source: I/B/E/S data by Refinitiv.
CZECH REPUBLIC MSCI STEG, STRG, & LTEG(percent)
LTEG* (9.1)STEG* (9.9)STRG* (9.7)
Figure 19.
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020-15
-10
-5
0
5
10
15
20
25
30
35
40
45
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55
60
-15
-10
-5
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5/9
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Note: STEG is year-ahead forward consensus expected short-term earnings growth. STRG is year-ahead forward consensus expected short-termrevenue growth. LTEG is five-year consensus expected long-term earnings growth.Source: I/B/E/S data by Refinitiv.
DENMARK MSCI STEG, STRG, & LTEG(percent)
LTEG* (10.3)STEG* (7.1)STRG* (5.7)
Figure 20.
Countries A-Z
Page 12 / May 18, 2019 / Global Index Briefing: MSCI STRG, STEG, & LTEG www.yardeni.com
Yardeni Research, Inc.
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020-10
0
10
20
30
40
50
60
-10
0
10
20
30
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50
60
5/9
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Note: STEG is year-ahead forward consensus expected short-term earnings growth. STRG is year-ahead forward consensus expected short-termrevenue growth. LTEG is five-year consensus expected long-term earnings growth.Source: I/B/E/S data by Refinitiv.
EGYPT MSCI STEG, STRG, & LTEG(percent)
LTEG* (NA)STEG* (18.7)STRG* (13.6)
STEG capped at 50%
Figure 21.
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020-30
-20
-10
0
10
20
30
40
50
-30
-20
-10
0
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5/9
yardeni.com
Note: STEG is year-ahead forward consensus expected short-term earnings growth. STRG is year-ahead forward consensus expected short-termrevenue growth. LTEG is five-year consensus expected long-term earnings growth.Source: I/B/E/S data by Refinitiv.
FINLAND MSCI STEG, STRG, & LTEG(percent)
LTEG* (9.1)STEG* (7.4)STRG* (3.3)
Figure 22.
Countries A-Z
Page 13 / May 18, 2019 / Global Index Briefing: MSCI STRG, STEG, & LTEG www.yardeni.com
Yardeni Research, Inc.
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020-20
-10
0
10
20
30
40
-20
-10
0
10
20
30
40
5/9
yardeni.com
Note: STEG is year-ahead forward consensus expected short-term earnings growth. STRG is year-ahead forward consensus expected short-termrevenue growth. LTEG is five-year consensus expected long-term earnings growth.Source: I/B/E/S data by Refinitiv.
FRANCE MSCI STEG, STRG, & LTEG(percent)
LTEG* (9.7)STEG* (6.5)STRG* (3.5)
Figure 23.
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020-10
0
10
20
30
40
50
-10
0
10
20
30
40
50
5/9
yardeni.com
Note: STEG is year-ahead forward consensus expected short-term earnings growth. STRG is year-ahead forward consensus expected short-termrevenue growth. LTEG is five-year consensus expected long-term earnings growth.Source: I/B/E/S data by Refinitiv.
GERMANY MSCI STEG, STRG, & LTEG(percent)
LTEG* (8.0)STEG* (7.8)STRG* (4.5)
Figure 24.
Countries A-Z
Page 14 / May 18, 2019 / Global Index Briefing: MSCI STRG, STEG, & LTEG www.yardeni.com
Yardeni Research, Inc.
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020-80
-60
-40
-20
0
20
40
60
-80
-60
-40
-20
0
20
40
60
5/9
yardeni.com
Note: STEG is year-ahead forward consensus expected short-term earnings growth. STRG is year-ahead forward consensus expected short-termrevenue growth. LTEG is five-year consensus expected long-term earnings growth.Source: I/B/E/S data by Refinitiv.
GREECE MSCI STEG, STRG, & LTEG(percent)
LTEG* (38.0)STEG* (18.5)STRG* (0.8)
STEG capped at 50%
Figure 25.
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020-30
-20
-10
0
10
20
30
-30
-20
-10
0
10
20
30
5/9
yardeni.com
Note: STEG is year-ahead forward consensus expected short-term earnings growth. STRG is year-ahead forward consensus expected short-termrevenue growth. LTEG is five-year consensus expected long-term earnings growth.Source: I/B/E/S data by Refinitiv.
HONG KONG MSCI STEG, STRG, & LTEG(percent)
LTEG* (12.6)STEG* (14.3)STRG* (8.7)
Figure 26.
Countries A-Z
Page 15 / May 18, 2019 / Global Index Briefing: MSCI STRG, STEG, & LTEG www.yardeni.com
Yardeni Research, Inc.
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020-40
-20
0
20
40
60
80
-40
-20
0
20
40
60
80
5/9
yardeni.com
Note: STEG is year-ahead forward consensus expected short-term earnings growth. STRG is year-ahead forward consensus expected short-termrevenue growth. LTEG is five-year consensus expected long-term earnings growth.Source: I/B/E/S data by Refinitiv.
HUNGARY MSCI STEG, STRG, & LTEG(percent)
LTEG* (6.9)STEG* (6.0)STRG* (2.0)
Figure 27.
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020-5
0
5
10
15
20
25
30
35
40
45
50
-5
0
5
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45
50
5/9
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Note: STEG is year-ahead forward consensus expected short-term earnings growth. STRG is year-ahead forward consensus expected short-termrevenue growth. LTEG is five-year consensus expected long-term earnings growth.Source: I/B/E/S data by Refinitiv.
INDIA MSCI STEG, STRG, & LTEG(percent)
LTEG* (26.5)STEG* (22.7)STRG* (8.7)
Figure 28.
Countries A-Z
Page 16 / May 18, 2019 / Global Index Briefing: MSCI STRG, STEG, & LTEG www.yardeni.com
Yardeni Research, Inc.
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020-10
-5
0
5
10
15
20
25
30
35
40
45
-10
-5
0
5
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30
35
40
45
5/9
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Note: STEG is year-ahead forward consensus expected short-term earnings growth. STRG is year-ahead forward consensus expected short-termrevenue growth. LTEG is five-year consensus expected long-term earnings growth.Source: I/B/E/S data by Refinitiv.
INDONESIA MSCI STEG, STRG, & LTEG(percent)
LTEG* (11.0)STEG* (10.6)STRG* (7.4)
Figure 29.
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020-60
-40
-20
0
20
40
60
-60
-40
-20
0
20
40
60
5/9
yardeni.com
Note: STEG is year-ahead forward consensus expected short-term earnings growth. STRG is year-ahead forward consensus expected short-termrevenue growth. LTEG is five-year consensus expected long-term earnings growth.Source: I/B/E/S data by Refinitiv.
IRELAND MSCI STEG, STRG, & LTEG(percent)
LTEG* (9.9)STEG* (8.3)STRG* (4.5)
STEG capped at 50%
Figure 30.
Countries A-Z
Page 17 / May 18, 2019 / Global Index Briefing: MSCI STRG, STEG, & LTEG www.yardeni.com
Yardeni Research, Inc.
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020-20
-10
0
10
20
30
40
-20
-10
0
10
20
30
40
5/9
yardeni.com
Note: STEG is year-ahead forward consensus expected short-term earnings growth. STRG is year-ahead forward consensus expected short-termrevenue growth. LTEG is five-year consensus expected long-term earnings growth.Source: I/B/E/S data by Refinitiv.
ISRAEL MSCI STEG, STRG, & LTEG(percent)
LTEG* (36.4)STEG* (9.1)STRG* (-0.4)
Figure 31.
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020-30
-20
-10
0
10
20
30
40
50
60
70
80
-30
-20
-10
0
10
20
30
40
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70
80
5/9
yardeni.com
Note: STEG is year-ahead forward consensus expected short-term earnings growth. STRG is year-ahead forward consensus expected short-termrevenue growth. LTEG is five-year consensus expected long-term earnings growth.Source: I/B/E/S data by Refinitiv.
ITALY MSCI STEG, STRG, & LTEG(percent)
LTEG* (10.7)STEG* (7.2)STRG* (1.0)
STEG capped at 60%
Figure 32.
Countries A-Z
Page 18 / May 18, 2019 / Global Index Briefing: MSCI STRG, STEG, & LTEG www.yardeni.com
Yardeni Research, Inc.
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020-20
-10
0
10
20
30
40
50
60
70
-20
-10
0
10
20
30
40
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60
70
5/9
yardeni.com
Note: STEG is year-ahead forward consensus expected short-term earnings growth. STRG is year-ahead forward consensus expected short-termrevenue growth. LTEG is five-year consensus expected long-term earnings growth.Source: I/B/E/S data by Refinitiv.
JAPAN MSCI STEG, STRG, & LTEG(percent)
LTEG* (4.4)STEG* (4.7)STRG* (2.0)
STEG capped at 60%
Figure 33.
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020-20
-10
0
10
20
30
40
50
-20
-10
0
10
20
30
40
50
5/9
yardeni.com
Note: STEG is year-ahead forward consensus expected short-term earnings growth. STRG is year-ahead forward consensus expected short-termrevenue growth. LTEG is five-year consensus expected long-term earnings growth.Source: I/B/E/S data by Refinitiv.
KOREA MSCI STEG, STRG, & LTEG(percent)
LTEG* (3.5)STEG* (-7.1)STRG* (2.5)
Figure 34.
Countries A-Z
Page 19 / May 18, 2019 / Global Index Briefing: MSCI STRG, STEG, & LTEG www.yardeni.com
Yardeni Research, Inc.
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020-10
-5
0
5
10
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Note: STEG is year-ahead forward consensus expected short-term earnings growth. STRG is year-ahead forward consensus expected short-termrevenue growth. LTEG is five-year consensus expected long-term earnings growth.Source: I/B/E/S data by Refinitiv.
MALAYSIA MSCI STEG, STRG, & LTEG(percent)
LTEG* (7.7)STEG* (3.3)STRG* (5.0)
Figure 35.
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020-15
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Note: STEG is year-ahead forward consensus expected short-term earnings growth. STRG is year-ahead forward consensus expected short-termrevenue growth. LTEG is five-year consensus expected long-term earnings growth.Source: I/B/E/S data by Refinitiv.
MEXICO MSCI STEG, STRG, & LTEG(percent)
LTEG* (13.0)STEG* (15.1)STRG* (5.9)
Figure 36.
Countries A-Z
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NETHERLANDS MSCI STEG, STRG, & LTEG(percent)
LTEG* (10.9)STEG* (6.4)STRG* (4.0)
STEG capped at 50%
Figure 37.
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020-20
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NEW ZEALAND MSCI STEG, STRG, & LTEG(percent)
LTEG* (18.1)STEG* (10.0)STRG* (-4.0)
STEG capped at 40%
Figure 38.
Countries A-Z
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NORWAY MSCI STEG, STRG, & LTEG(percent)
LTEG* (11.4)STEG* (8.4)STRG* (2.5)
Figure 39.
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020-10
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PAKISTAN MSCI STEG, STRG, & LTEG(percent)
LTEG* (6.4)STEG* (25.6)STRG* (15.1)
Figure 40.
Countries A-Z
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PERU MSCI STEG, STRG, & LTEG(percent)
LTEG* (13.4)STEG* (17.9)STRG* (8.7)
STEG capped at 80%
Figure 41.
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020-5
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PHILIPPINES MSCI STEG, STRG, & LTEG(percent)
LTEG* (12.6)STEG* (12.8)STRG* (9.2)
Figure 42.
Countries A-Z
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POLAND MSCI STEG, STRG, & LTEG(percent)
LTEG* (15.1)STEG* (13.1)STRG* (5.0)
Figure 43.
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020-10
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PORTUGAL MSCI STEG, STRG, & LTEG(percent)
LTEG* (10.4)STEG* (20.1)STRG* (3.2)
STEG capped at 50%
Figure 44.
Countries A-Z
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2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020-40
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RUSSIA MSCI STEG, STRG, & LTEG(percent)
LTEG* (11.1)STEG* (-2.8)STRG* (1.4)
Figure 45.
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020-20
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SINGAPORE (FREE) MSCI STEG, STRG, & LTEG(percent)
LTEG* (5.9)STEG* (6.8)STRG* (4.9)
Figure 46.
Countries A-Z
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2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 20200
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SOUTH AFRICA MSCI STEG, STRG, & LTEG(percent)
LTEG* (16.4)STEG* (18.8)STRG* (7.0)
Figure 47.
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020-10
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SPAIN MSCI STEG, STRG, & LTEG(percent)
LTEG* (6.8)STEG* (6.0)STRG* (2.8)
STEG capped at 50%
Figure 48.
Countries A-Z
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2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020-30
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SWEDEN MSCI STEG, STRG, & LTEG(percent)
LTEG* (10.2)STEG* (6.1)STRG* (3.1)
Figure 49.
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020-5
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SWITZERLAND MSCI STEG, STRG, & LTEG(percent)
LTEG* (9.8)STEG* (9.2)STRG* (4.0)
STEG capped at 40%
Figure 50.
Countries A-Z
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2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020-50
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TAIWAN MSCI STEG, STRG, & LTEG(percent)
LTEG* (6.2)STEG* (3.3)STRG* (2.6)
STEG capped at 60%
Figure 51.
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020-20
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THAILAND MSCI STEG, STRG, & LTEG(percent)
LTEG* (8.3)STEG* (7.5)STRG* (2.6)
Figure 52.
Countries A-Z
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TURKEY MSCI STEG, STRG, & LTEG(percent)
LTEG* (26.4)STEG* (10.6)STRG* (15.4)
Figure 53.
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020-30
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UNITED KINGDOM MSCI STEG, STRG, & LTEG(percent)
LTEG* (7.0)STEG* (4.3)STRG* (1.4)
Figure 54.
Countries A-Z
Page 29 / May 18, 2019 / Global Index Briefing: MSCI STRG, STEG, & LTEG www.yardeni.com
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