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Global market rally may not be irrational

Markets are constantly looking to the future and if they expect a global economic recovery, then the rally is rational even if it diverges from the overall economic outlook.

As Singapore emerges from an election that clears the decks for a fresh term of government, Singapore stocks are a top pick within Asean.

ECONOMIC activity over the past few months has plummeted to levels we have not seen in my lifetime, both in Singapore and globally.

Despite this, the global stock markets are in the midst of a remarkable rally. For the first time in history, a bear market, defined as a 20 per cent or...

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