The document provides an analysis of the US equity markets, which have risen by 13% despite lackluster economic news. It discusses the relationship between stock market rallies and economic conditions, the impact of central bank stimulus, and the role of corporate profits. The document includes tables and charts on global PMI values, instances of significant stock market gains, global GDP growth versus equity returns, and the ratio of earnings growth to GDP growth. It also mentions the influence of monetary actions by the Federal Reserve, Bank of England, and European Central Bank.
documents/EFTA00596722.pdf
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