Why T. Rowe Price is bullish on non-US markets

• T. Rowe Price is overweight non-US markets, specifically favoring value, small, and mid-cap stocks outside the US.
• Fundamentals for small and mid-caps in Europe, Japan, and Emerging Markets are considered better than their US counterparts.
• European banks are highlighted as an opportunity, trading at a valuation discount relative to US banks like JP Morgan and Goldman Sachs.
• Opportunities exist in technology sectors outside the US, particularly in areas related to the 'picks and shovels' build-out of AI.
• The Middle East/Gulf region offers significant opportunities with strong GDP growth, stable inflation, and robust employment across capital markets.

T. Rowe Price is overweight non-US markets, citing better fundamentals and valuations in global small and mid-caps, European banks, and emerging markets like the Gulf region. They see opportunities in diversification and specific sectors like technology outside the US, encouraging investors to look beyond the US for growth.