Summer bubbles, autumn blues


WE have never had it so good. The S&P 500 and Nikkei 225 just hit record highs. SpaceX had its spectacular initial public offering (IPO), raising an eye-popping US$75bil (the largest IPO in history), with a sharp rise in share price to a mind-blowing valuation of US$2.5 trillion.

The possibility of a US-Iran deal to re-open the Strait of Hormuz has caused petrol prices to drop back to below US$4 per gallon.

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