In recent market updates we have been talking about the falling US Dollar (Big Mac Index and U.S. Treasuries). When the US dollar falls in value, international stocks (especially emerging markets) outperform US stocks. From 2000-2010, emerging markets outperformed US stocks as the dollar was falling. Then in the next decade (2010-2020) US stocks outperformed international stocks as the dollar was rising. With the dollar uptrend broken, this is the time you want to own international and emerging market equities in your portfolio.