Bull markets, it is said, climb a wall of worry. This one has climbed a wall of money. From the roaring Chinese stock market to the scout hut in Willesden that was sold last month for £400,000, cheap money is gushing into asset markets everywhere and driving an unprecedented period of global growth.
The problem is, the taps may have been switched off. With interest rates rising in Britain and worldwide, analysts are starting to ask whether we have reached the top of the economic cycle.
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Tuesday, 5 June 2007
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