Why T. Rowe Price has upped its allocation to US equities

From late 2022 into 2023, non‑US equities—especially in Europe and China—significantly outpaced US stocks. However, the tailwinds that drove outperformance in those regions may be peaking. Given this improved outlook, T. Rowe Price's Asset Allocation Committee moved its allocation to US stocks from underweight to neutral relative to the rest of the world.