What’s going to kill the party that has been raging on Wall Street since March 2009? That’s the question preoccupying many executives, bankers, and traders on Wall Street lately, especially since most of them agree that both the stock and bond markets are priced for perfection and that the circumstances on the ground are pretty far from perfect.
It’s a fascinating and precarious situation. People know in their guts, as well as in their brains, that the combination of the highest stock prices and lowest bond yields in recorded history is not sustainable and that a massive correction is coming. It has to. But no one can quite figure out what will become the catalyst for the inevitable decline in the financial markets.
