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Stock markets continue to rally globally, ascending a wall of poor economic data and significant negative sentiment. Concern that current price levels are unjustifiable is widespread: 78% of respondents to the most recent Bank of America Global Fund Manager Survey believe that the market is overpriced, the highest level since the survey began in 1998. …
The European Central Bank left its key rate unchanged at a record low of 0.25%. There was speculation around whether the European Central Bank would cut rates again in response to the low level of inflation (0.7% in January). The central bank’s president, Mario Draghi, addressed the low inflation issue by saying that the measure…
