1. UK political outcomes to the General Election in less than a month still looks unclear...
2. ...nevertheless this and a high valuation point did not stop European bourses pushing to new multi-year highs. Something to do with a weak euro...
(H/t Gavekal Capital)
3. ...and, of course, no-one is anticipating a rate rise soon in Europe...or maybe anywhere in the major economies. That really highlights the difference in this cycle.
(h/t @MktOutperform)
4. Mania has been apparent in China and Hong Kong over the last week. It has certainly got to the lower quality point...
Have a good weekend...





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