Taking Stock 

Waiting for the end of the world

Mark Robinson

Waiting for the end of the world

We pray for the day when somebody at Investors Chronicle will write an article on the narrowing equity-risk premium that won’t automatically be followed by a new stock market record. A decade of rising equity valuations hasn’t made us complacent, but after innumerable bear sightings that turned out to be illusory, nobody wants to be labelled a modern-day Cassandra, fated never to be believed. Nevertheless, in view of recent trends it would be remiss of us not to ask whether the trajectory of US interest rates and the rising price of seaborne oil barrels could finally put paid to history’s longest ever bull run.

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