(Bloomberg) — Animal spirits are famously running wild across Wall Street, but crunch the numbers and this bull market is even crazier than it seems.
Global stocks are now worth around $100 trillion. American companies have raised a record $175 billion in public listings. Some $3 trillion of corporate bonds are trading with negative yields.
All the while the virus spreads, the economic cycle stays on life-support and businesses get thrashed by fresh lockdowns.
Spurred by endless monetary…
Source link
