I don’t believe that the market at this time truly reflects the fundamental risks of the overall economy and how those risks translate long-term into negative business conditions. What I think is happening is that investors are looking for a place to put their money where they can get a better return than on Treasury bonds that aren’t yielding too much. I don’t think it is a reflection of investor sentiment towards the market overall. I think it’s just a matter of opportunity and where they’re seeing a better prospective return on their investment. We’ve seen a tremendous rise in some commodity prices which is usually associated with investors hedging against inflation or other factors. Continue reading →