Markets, Sprinkled With Fairy Dust

Mohamed El-Erian is worried that supportive monetary policy has made investors comfortable with high returns, even though he think that financial markets may be sprinkled with the "fairy dust of illusionary riches"
Why stop now?                                                                                                     

Financial markets sure did well in the first half of the year, despite an unexpected share of economic disappointments, policy misses and geopolitical drama. They will need better news in the next six months to sustain that performance, and if they succeed it is unlikely that they will repeat those same, broad-based gains.

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