The domestic equity markets appear less expensive than their US counterparts when compared on the market capitalisation to GDP (Mcap-to-GDP) metric, according to a report by Axis Direct.
Global equities are set to generate "solid long-term returns despite elevated valuations," Goldman Sachs has said in its latest Global Strategy Paper, forecasting a 10-year annualised return of 7.7 per cent in USD terms for global stock markets.