Bulls and Bears Are Both Winning as Markets Take Strange Turn
- Gold, yen, bonds charge higher in tandem with global stocks
- BofA Merrill Lynch among those saying something has to give
UBS's Emanuel Sees Disconnect in Markets and Data
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Markets are handing rosy returns to optimists as well as pessimists. History tells us it ain’t going to last.
The march higher in global stocks this year is being tracked by rallies in gold, the yen and bonds -- traditional haven assets. There are plenty of reasons being cautious is paying off: politics in Washington is fractured, tension on the Korean peninsula is rising and worries have revived about low U.S. inflation. That’s not been in the way of equity bulls who have driven up the value of stocks worldwide by more than $10 trillion in the past year.