The slowest rotation: what's holding up switch to equities?

Core developed governments teeter on the brink of bankruptcy, but their bonds are more expensive than they have been in two hundred years. Companies are engorged with cash, but share prices remain at modest levels, at best edging higher with only the most tentative steps. Where is the rush to take advantage of this outstanding arbitrage? For many, the lack of rotation of investment assets out of fixed income and into equities is a real conundrum. Starting with the basics, there are several reasons why capital allocations are not always decided with return in mind: • Demographic ...