Apparently the US is not in a stock market bubble, but that’s not exactly what the data is saying.This morning, we saw the following from Tobias Levkovich at Citi Research. It’s a chart of his US Panic/Euphoria index, which incorporates multiple indicators to give a reading of current market sentiment in the US.And it’s errr . . . currently higher than during the dotcom/ telco bubble of 1999: It’ll be of little surprise to anyone following market trends at the moment -- whether it be in electric car stocks, ESG names, SPACs, or bitcoin, where valuations are screaming higher and higher each day.FT Alphaville has been thinking about this a little, particularly over lockdown 3.0, and we’re trying to figure out whether what we’re seeing is yet another passing fad or
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Apparently the US is not in a stock market bubble, but that’s not exactly...