By Greg Canavan The Daily Reckoning
Back in the heady days of the credit boom, nearly all markets were reaching record highs at the same time. Now, after the bust, some have recovered better than others. The ‘topping out’ thesis is not so uniform.
What we mean is that the liquidity-induced recovery in the global economy, and equity and commodity markets, may be coming to an end. Not as in running into a brick wall, but a slow dawning on investors that all is not right in the world. Continued...
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