Why financial markets' new exuberance is irrational

Nouriel Roubini | Roubini Macro Associates| 22 November 2019

This past May and August, escalations in the trade and technology conflict between the United States and China rattled stock markets and pushed bond yields to historic lows. But that was then - since, financial markets have once again become giddy. US and other equities are trending toward new highs, and there is even talk of a potential "melt-up" in equity values. The financial-market buzz has seized on the possibility o...