Original article by David Rogers
The Australian – Page: 18 : 8-Jan-19

The S&P/ASX 200’s recent rally has seen its 12-month forward price-to-earnings ratio return to its long-term average following a sharp sell-down in the December quarter. Meanwhile, the S&P 500 is trading at around eight per cent below its long-term average. The near-term outlook for equities may depend on a range of factors, including trade negotiations between the US and China.

CORPORATES
STANDARD AND POOR’S ASX 200 INDEX, STANDARD AND POOR’S 500 INDEX, UNITED STATES. FEDERAL RESERVE BOARD, NIKKEI 225 INDEX, BANK OF AMERICA CORPORATION, MERRILL LYNCH AND COMPANY INCORPORATED, MSCI ALL COUNTRY WORLD INDEX