Supply-demand forces are favouring equities over bonds
Stock market resilience simply reflects the fact that new share issuance remains very subdued
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Stock trading surge helps Wall Street navigate dealmaking trough
Volatility is keeping market-making desks active at a time when mergers and issuance have slowed
US stocks fall as global bond sell-off deepens
Tech shares extend recent declines as rising debt piles in many major economies concern investors
Interest rates are normal, the world is not
Given all this fragility, recessionary or inflationary shocks — or even both together — are conceivable
Private credit’s stale pricing problem
More frequent asset valuations can boost market resilience and investor confidence
Fiscal dominance and the unexpected rise of emerging markets
Developed markets have a debt problem — some investors are looking elsewhere
Markets are banking on the ‘Bliss trade’
A belief in resilience underwritten by big lasting state support is keeping stocks high