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Why the stock market rally will not last long, despite dovish moves by central banks




Few would have predicted at the end of last year, when stock markets were in free fall, that global equities would bounce back so spectacularly.In the first half of 2019, the MSCI All-Country World Index, a leading gauge of shares in developed and developing economies, surged almost 15 per cent, its best first half of the year since 1997. The fierce rally has left the index just 4.5 per cent shy of its all-time high reached in January last year.The dramatic gains in stock prices stem mainly…



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