BIS warns of gap between market valuations and reality

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BIS with flags

The Bank for International Settlements

High market valuations appear to be at odds with a weak and turbulent economic recovery, the Bank for International Settlements warns.

Valuations in the past quarter were “stretched”, the BIS says in its latest quarterly review, published today. Some equity markets hit record highs, while bond spreads were compressed.

“The evolution of aggregate valuations appeared to be somewhat at odds with the general economic outlook,” the report notes, though it adds that recent jitters in equity markets

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