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2021-06-16

Many well-known and respected experts are predicting a stock market collapse in the coming months or quarters ...

based on rising bond yields, stretched valuations and speculative behaviour by market participants.

This may or may not be true.

A market correction is certainly possible but any real threat to global financial stability will continue to be met with massive doses of monetary and fiscal stimulus.

What worries me more is that debt in comparison to gross domestic product is now at record levels in the US, eurozone, UK, Japan and China. 

Eric Knight FT 10 June 2021


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