FYI: History does not repeat itself, the saying goes, but it often rhymes. Where then can we find a market moment that rhymes with the extraordinary market conditions of early 2018? Taken together, this can fairly be called an unprecedented juncture. Stock markets are shooting higher with low volatility despite historically high valuations, while the dollar is sliding even as what looks like the end of the bull market in Treasury bonds should be bringing flows of capital towardsthe US.
These are strange conditions. But history still has clues as to what now confronts us. Naturally, as many of us who work in or cover the markets today have a lively memory of the global financial crisis and the dotcom bubble, the attention tends to focus on the possibility of bubbles and crashes. Going back earlier in history reveals several other incidents that may rhyme with what is happening now. The only problem is that some of them are mutually inconsistent.
Years that some believe could rhyme with early 2018 include:
Regards,
Ted
http://www.cetusnews.com/business/What-history-tells-us-about-the-extraordinary-markets-of-early-2018.HJ-ytAF_rM.html
