There is no surprise in this article that is stating the obvious. When economic growth is at best slow or in many parts of the globe in recession there is no logic behind markets advancing to higher and higher levels. The US, Japanese and European markets as we should know by now are rigged and manipulated to prevent the inevitable from happening. This rigging comes from central bank intervention mostly but more than that and particularly in the US companies borrowing at near zero interest rates to buy back their own shares to raise the earnings per share and keep corporate bonuses at peak levels distorts the reality until one day the chickens come home to roost. A weakened company finds itself with a whole lot more debt and possible rising interest rates…

Demand for U.S. shares among companies and individuals is diverging at a rate that may be without precedent, another sign of how crucial buybacks are in propping up the bull market as it enters its eighth year.

Source: There’s Only One Buyer Keeping S&P 500’s Bull Market Alive – Bloomberg Business