What's Happening Around The Globe:

China: Slowing Economy

 = expectations of lower interest rates =  record equity prices:

2015 = +44%

Germany: Business Confidence stalls:

Japan:

 Clearly it is not economic growth that is driving global equity markets, but it is lower interest rates or the expectation of lower interest rates as central banks continue to fight deflation and slow economic growth with stimulative monetary policies.

What happens when economic growth begins to improve?

or

What happens if economic growth does not improve?

How high is too high?

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