The financial crisis and its legacy continue to pervade the senses of all those caught up in it (pretty much everyone), and it would be easy to plough another furrow here along those lines.
Bond and sukuk markets in the Gulf, for instance, reflect the yields of US Treasuries being suppressed by the Federal Reserve, the reduced premia associated with the ‘risk-on’ trade that is characteristic of the schizophrenic, globalised market mood, and the enhanced liquidity that results from elevated oil prices which themselves result partly from the Fed’s determined easing programme.
In other words, the threat of a market bubble exists again.
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