Stock markets cannot be the only sun at the centre of the economic universe
Stock markets, in the United States especially, have become bubbles that refuse to burst or liquidity lakes that refuse to drain even as vitality leaks from the global economy. What is with this death-defying quality that many equity (and bond) markets appear to have taken on?Analysts are generally agreed that equity valuations are “stretched”. Some stocks in the S&P 500 index are trading at near double their historic price-to-earnings multiple while corporate earnings in the US and elsewhere…

Brought to you by SCMP. Read more:

* * * * *
Breaking news, analysis and opinion from the SCMP’s Hong Kong edition.

Comment or Tag a Friend!

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.