How the soaring US stock market is reinforcing ‘home bias’
The US stock market’s relentless grind higher – the S&P 500 closed at a record high on Wednesday – and its accompanying outperformance of stock markets elsewhere are both reinforcing US residents’ ‘home bias’. While a high and generally rising allocation to domestic equities is unlikely to change until the bubble in AI bursts, it’s another warning sign of that eventuality.
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