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Expensive share prices matter eventually

Finally it seems that stock markets have woken up to valuation risk
Expensive share prices matter eventually
  • Bitcoin sell-off a dose of reality for speculators
  • Stock markets struggling is a that sign inflation expectations are making investors think 

Stock markets are struggling to move higher. Low interest rates and low inflation which has supported higher valuations are now being questioned. Even strong profits growth is failing to move share prices up from their current elevated levels.

This week we have seen some of the biggest signs of speculative excess deflate as has been the case with bitcoin. 

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