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IPFS News Link • Stock Market

Blain: "Something Feels Very Unreal About Current Market Levels"

• https://www.zerohedge.com, Tyler Durden

It feels very unusual and strange for US market's to be hitting record highs in the middle of the summer – as happened last week. Typically, nothing much happens in August – certainly not markets capping the strongest market recovery rally in 87 years – despite the looming threat of the deepest recession in recorded history. Yet equity markets remain very much "Risk-On" and looking poised for further upside. 

Today's zero-return markets make for a curiously appealing upside argument to buy stocks – bonds can't go any higher, gold produces no return, therefore stocks are the asset-class with most upside! More money will pile into stocks on the basis they can still rise! Its two forces at work: financial asset stagflation inflated further by rising bubble conditions.


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