The Federal Reserve is slashing interest rates, oil is crashing, China is finally moving more determinedly to bolster growth and global stock markets are poised to reset their record high.
“It’s a bubble dream,” said Bank of America equity strategist Michael Hartnett. His data had another $US10.9 billion ($15.8 billion) flowing into US equities in the week ended September 25.
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Timothy Moore writes on monetary policy, equities, commodities and currencies. He is the overnight markets editor and writes Before the Bell. Connect with Timothy on Twitter. Email Timothy at timothy.moore@afr.com
