There's so much bad publicity for shares and financial markets these days that there's a new theory going around as to why, despite it all, stockmarkets keep rising.
There is, quite simply, too much doom and gloom around and the shorters are getting squeezed all the time.
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Philip Baker writes on markets specialising in bonds, equity markets and currencies. Based in our Sydney newsroom, Phil is a markets columnist. Connect with Philip on Twitter. Email Philip at pbaker@fairfaxmedia.com.au
