- Bank for International Settlements warns of possible "long-run turbulence" in the global economy.
- The "central bankers' central bank" argues that investors are ignoring inflated asset prices because of the strong global economic picture right now.
- The warnings echo those of the Bank of England, and star fund manager Neil Woodford.
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Expect 'long-run turbulence': Central bankers warn of worrying echoes of 2008's global financial crash
The 'central bankers' central bank' argues that investors are ignoring inflated asset prices because of the strong global economic picture right now.
The global financial system is showing worrying echoes of the years leading up to 2008's global financial crisis, and central banks must act to prevent major damage, according to the Bank for International Settlements has said.
"Whether it’s bitcoin going through $10,000, European junk bonds yielding less than US Treasuries, historic low levels of volatility or triple-leveraged exchange traded funds attracting gigantic inflows — there are so many lights flashing red that I am losing count," Woodford said in the Financial Times.
He said current equity valuations represent a bubble the likes of which he had "only witnessed two or three times in my career as an investor."
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