Robert Jukes: Fake plastic trees in the green shoots of recovery?

This is no ordinary recession, so do not expect an ordinary recovery. Before Covid-19, interest rates and inflation were unusually low, and bond prices were unusually high. As we emerge from recession, those things remain true, but now equity valuations are also unusually high. That does not bode well for future returns. There is something fake and plastic about this recovery, and as the song clearly states, gravity always wins. Investors should moderate their expectations. Setting aside the bizarre equity market reaction to the largest recession in living memory, there is something e...