Everywhere you look, stockmarkets are breaking records
If the boom has a home, it is America.
For as long as stockmarkets have existed there have been those predicting an imminent crash.
Jordan Brooks has concluded that “a repeat of the past decade’s equity market performance would require a heroic set of assumptions.”
That is, in part, because valuations are already at eye-popping levels.
The battle against inflation is also not yet won: interest rates may not fall as far or as fast as investors expect.
In recent decades you would have been foolish to bet against stockmarkets, and timing a downturn is almost impossible. But the corporate world is about to face an almighty test.
The Economist 25 February 2024
Armageddonists
https://englundmacro.blogspot.com/2024/02/armageddonists.html
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