MarketWatch
The rational bubble is turning irrational — and the next few weeks are critical, strategist says
February 19 2021
Dhaval Joshi, chief European investment strategist for BCA Research, has said for some time that low yields meant the rally into stocks and other assets, made sense — a rational bubble, if you will. “Rational, because the nosebleed valuations are justified by a fundamental driver. And not just any fundamental driver, but the most fundamental driver of all – the bond yield,” he writes.