Will the asset bubble find its pin? Everything is in a bubble. It is the most overvalued stock market in history by whichever matrix you wish to use. Bonds, particularly European bonds are in a bubble also. For example, European junk yields are now lower than that of US Treasuries. Is Euro junk debt less risky than US Treasuries? I asked in a piece entitled, “The Deflating Bubble of Everything”, dated November 20, 2017. But it is not...
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