Financial markets are having a party. But it feels like everyone’s invite got lost in the post.
A week ago, the main US stocks benchmark, the S&P 500, cracked through to a record high, clawing back to the previous high-water mark struck two years ago. On Monday, it set a new even higher record. On Wednesday, well, you get the idea. We are on the cusp of a bull market — a 20 per cent ascent from recent lows.
Normally, these moments are a time for celebration. Behold the majesty of capitalism at work! Admire its manifold rewards!
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