The deflating bubble of everything could now be playing out… 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? It underscores the fact that Euro junk bonds are so overbought, they too are in a bubble. Moreover,...
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