Past experience has taught us that market environments that feature cheap financing, easy access to investments, the incentive to engage in speculative activity, and a technological or political “spark” tend to lead to bubbles. Bond prices are so elevated that a quarter of all global bonds are trading with negative interest rates. Tesla now has
The US election was, as many predicted, a hard-fought election. Although the coronavirus pandemic was a key issue for both sides, the election was characterised by the overt populist support that Trump enjoyed and played out through his large rallies, and the more mainstream support for Biden. Although the result of the election has not been formally announced and President Trump has not yet formally conceded, we now expect
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