Financial markets are euphoric. They like everything and its opposite: stimulus plans, because it’s more money for companies and it’s good for the stock market, and
good economic news, because it’s good for businesses… and therefore for the stock market! But they taste just as much bad economic news because it means that central banks will inject even more money into the circuit and that governments will act even more for the recovery … And that’s good for the stock market!
Towards the end of the euphoria on the world stock markets?
It was agreed by a kind of international consensus that inflation would be cyclical and that the surge in commodities, real estate and tensions on employment would not worry anyone. Yet the rise in commodity prices seems completely crazy: + 45% on oil and gas since the start of the year. Steel has grown by + 245%. Only gold remains stable after a slight rise in
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