Boosted by central bank largesse and negative real rates of the key reserve currencies, global markets continue their inexorable rise to new highs. Bulls argue that valuations for international large caps are low by historical standards, balance sheets are strong and dividend yields are attractive.
The bears point to the disconnect between equity valuations and the state of the global economy; France is in a recession, Italy has been contracting for seven consecutive quarters and Germany just narrowly...
Joined with 21 Partners
Consequences could be more severe than in stress tests
Move to variable operating expenses
Set to happen on 4 April