The
stock market has been on a tear lately, with the Dow and S&P 500
hitting a series of records. And while the market has been described as
“boring” as volume and volatility recede, every major asset class —
stocks, bonds, commodities, emerging and frontier markets — was up
year-to-date as of Tuesday, making this certainly a unique and
interesting moment.
Related: Why bond yields are tanking
Komal
Sri-Kumar, president of the investment firm Sri-Kumar Global
Strategies, says a dangerous conglomeration of factors is conspiring to
threaten the rally.
“My concern now is we’re in the
sixth year of monetary easing, going into the seventh, and still don’t
have economic growth pickup to a sustainable pace,” he says. “We’ve done
[easing] for a long period of time and there’s still no improvement for
the growth picture.”
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