Euphoria Grips Markets But Fund Managers Believe Hiking Rates Is A Mistake

Will the Fed’s decision to start hiking rates prove to be a mistake? The current stretch of market euphoria is “considerably longer than the average of 3 months since 1988” as historically, “out of 37 non-overlapping euphoric episodes in past 30 years, only seven times has sentiment remained near euphoria zone for longer than the current stretch.” That’s the key takeaway from Bank of America Merrill Lynch’s latest report on investor sentiment, Bank of America uses an equity ‘Risk-Love Indicator’ to try and gauge the current mood among equity investors over the world. Passive Assets To Cool As QE Ends?…