The Impact of the Fed's Rate Hitting Cycle on International Equity Performance

There are basically three drivers for international performance from the point of view of a U.S. investor, right? And one of them is the relative valuations in Europe and in our regions of the subdued. The second aspect that I think helps international equities is the growth and value composition of the market compared to US. So the second question, and the third one is the dollar. A weakening dollar trend would actually benefit also U.S.-based investors overseas.