Jupiter's Geldard: Markets are ignoring central bank warning signs

The single biggest challenge facing markets is normalisation of monetary policy, but although central banks are urging caution, markets are ignoring the warnings, argues Jupiter's Miles Geldard.

Following an unprecedented period of low interest rates, normalisation of monetary policy in the West is looking like the most significant challenge facing markets today. Debt levels remain elevated, and as a result central banks must be careful not to raise rates too quickly. Current times call for more caution than might otherwise be needed, in a period of more conventional monetary policy. The process will not be a quick one, and repercussions on the rest of the global economy remain unclear. The strength of the US economy is a key argument in favour of policy normalisation. ...