As long as investors believe that markets will continue to benefit from policy support

asset valuations may stay elevated for some time. 


Nonetheless, and especially if the economic recovery is delayed, there is a risk of a sharp adjustment in asset prices or periodic bouts of volatility.


IMF blog 13 October 2020


https://blogs.imf.org/2020/10/13/a-bridge-to-economic-recovery-be-aware-of-financial-stability-risks/

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