The Bank for International Settlements (BIS) – the central bank for central bankers – said in its quarterly review that valuations are high, especially given that the foundations they are built on may not be so solid. It did not explicitly say that stock and bond markets are waiting to burst. This explains the nagging question of whether market prices fully reflect the risks ahead,” said Claudio Borio, head of the BIS monetary and economic department. Bond yields have been well below growth rates in all four for some time, the BIS said. The forum for central banks gave no views on how the City of Londonwould fare after Brexit.

Source: The Guardian September 18, 2016 11:26 UTC