“The bull [is] in full snorting mode,” says Vito Racanelli in Barron’s. Global stocks, as measured by the FTSE All World index, hit a new record this week. In the US, the S&P 500 hit a new peak of around 1,900, while the Dow Jones index ploughed ahead to the 17,000 level. Meanwhile, in Europe, stocks have hit a new six-year high.
The latest surge came as the US employment situation continued to improve (see chart below), while GDP growth in Japan was unexpectedly strong. Investors also started to pencil in a move to full-blown money [...]
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