The Latest News:

  • Broad U.S. stocks continue to break record highs.
  • “Central bank support and the lack of choice elsewhere appear to be the main reasons equities are now on a charge,” Andrew Lapthorne, quantitative strategist at Société Générale, said in a Financial Times article. “The mood is increasingly turning towards fear of a ‘melt-up’ in equity prices rather than a collapse back down towards disappointing fundamentals.”
  • According to PIMCO’s global co-head of emerging markets portfolio management, Ramin Toloui, we are in a new era for global bonds, and everything investors previously knew is wrong, writes Jason Voss for Enterprising Investor.
  • Specifically, emerging markets are running positive current account balances; emerging market international reserves are at $8 trillion; G20 debt-to-GDP has risen to 120%, compared to emerging markets’ debt-to-GDP of around 30%; large unemployment rates in developed economies; rapid growth in emerging markets.

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Max Chen contributed to this article.