This has been another period where not a great deal happened in the financial markets. Once again, there were moderate gains in the stock markets and many are close to, or have already hit, record territory. There is still enough liquidity around to push equity prices higher, although the number of warning voices is growing. The amount of cash circulating is still substantial enough to prevent a crash in the market, but profit earning estimations for the future and the function of large hedge and private equity funds could eventually create some unpleasant surprises.

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