In 20
25, the global economy was a rollercoaster – and normally Erratic tariffs, rising public debt, higher bond yields and a cost-of-living squeeze would unsettle markets but the truth is stock markets loved it.
They surged to their highest ever levels. The most dangerous time in markets is when bad news stops mattering. In the US the S&P 500 index now pays 40 times cyclically adjusted earnings – a multiple very close to the dot com bubble. Another thing that is soaring – Gold all the uncertainty has people talking of $7,000, just a reminder gold can fall in value too.