The great question is whether the world economy really is at the start of a fresh cycle of growth, or whether the roaring asset rally of the last few months is another false dawn driven by central bank liquidity that is failing to gain economic traction.  The International Monetary Fund’s said this week that the world economy is not yet out of the woods. “It is clear that financial markets are ahead of the real economy. The question is whether they are too much ahead or not, whether we are seeing a bubble,” said chief economist Olivier Blanchard.  Article

Bond Crash Alert in US?