I’ll come right out and say it: This market has me baffled! If you’d said we would be in a world where unemployment has rocketed, economic growth rates are plunging and company earnings are due to collapse, AND that the stock market would be racing to take out the prior highs, I would have argued that you need mental observation.And yet here we are.The Nasdaq has led a huge V-shaped recovery in global equity markets and has surged to a record high. We’ve witnessed the fastest bear market and the speediest recovery in history. All in the space of just three months.What’s behind this incredible rally in the stock market, and is it sustainable?One has to acknowledge an important fact: interest rates are practically at zero all over the developed world. They are negative in some places. The cost of money is nothing. That’s a situation that looks likely to remain for years.US Federal Reserve Chair Jerome Powell recently suggested that the Fed is "not even considering" raising interest ra...

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