Markets are banking on the ‘Bliss trade’
A belief in resilience underwritten by big lasting state support is keeping stocks high
Related reading
There is method in the market’s madness
But it relies on a host of rosy assumptions going in investors’ favour
Bullish investors pile into stocks as cash levels sink to record low
Fund managers most optimistic since 2021 despite worries over tech valuations, Bank of America survey shows
Private credit’s stale pricing problem
More frequent asset valuations can boost market resilience and investor confidence
Markets should pay heed to the affordability squeeze
Political pressure in response to public anxiety will demand policy responses
Stocks’ irrational rate-cut rally
And the prospects for a Hassett-led Fed
No edge, no hedge: why markets are stuck
Neither extreme optimism nor extreme pessimism makes much sense, and neither is easy nor safe to express