The stock market regulator in France warning on the risks of high global debt to equities
The Autorite des Marches Financiers in its annual report:
- "The world has never been so indebted - even more than before the 2007 crisis
- this debt has never been so risky
- The number one risk for 2018 is a brutal correction of stock prices
- Current valuation levels look high both by historical standards, and in fundamental terms across a whole range of indicators, starting with American equities
- Any correction there would most likely spread to other stock markets"
So, not everyone in France is watching the Tour de France?
There is more here, its an article from Ambrose Evans Pritchard. I've been missing him! AEP has been a big bear for a decade or more as US stocks have soared. He is still highlighting the warning signs.
