Global growth is weak, and will be eroded further by Brexit. Oil prices are low, and likely to plunge further. The world has excess capacity and a wage-depressing labor surplus. Corporate profits are shaky. And deflation is laying bare the impotence of central banks. So where would you logically expect financial markets to be going, given that economic, financial and …

  The stock market of the late 1990s is remembered mostly for high-flying dotcom equities that eventually crashed back to earth. Yet, from a money flows standpoint, the bigger imbalance of that era was that large-cap stocks fetched very high valuations relative to small cap stocks. This market opportunity was exploited by hedge funds, leading to a decade of outperformance …

  Hangzhou/ AFP The United States and China on Saturday formally joined the Paris climate deal, with President Barack Obama hailing the accord as the “moment we finally decided to save our planet”. The move by the world’s two biggest polluters is a major step forward for the 180-nation accord, which sets ambitious goals for capping global warming and funnelling trillions …