Investors in Denmark are almost universally bullish about European equities. Though sentiment towards US equities is considerably less buoyant, a market correction isn’t thought to be an imminent threat.
As the world is nearing a confrontation between two nuclear powers, the VIX index of volatility fell to a 10-year low in an convincing display of indifference.
Not being a student of Keynesian theory, I’ve been somewhat confused by the oft mentioned revival in ‘animal spirits’. Rather than bulls and bears, investors should beware the headless chickens.