The latest rally in equities has been impressive, but despite trading 15.5 percent higher than the April 2010 level, our Z-score valuation model on global equities are lower. Based on multiple valuation metrics, global equities are trading -0.68 standard deviations below their historical mean since 1996. With the current co-incident indicators and leading indicators at hand, I expect global equities will continue to rise throughout 2013 and end the year higher.