At this level, global funds may start to move their bond holdings back to neutral, and the earnings yield ratios of the S&P 500 and MSCI World will move closer to the normal level, bonds no longer expensive or equities no longer cheap on a relative basis.  -   Eddie Wong     Quotes
At this level, global funds may start to move their bond holdings back to neutral, and the earnings yield ratios of the S&P 500 and MSCI World will move closer to the normal level, bonds no longer expensive or equities no longer cheap on a relative basis. Eddie Wong