Current stock valuations are historic

The CAPE ratio has now climbed to its highest level outside of the 2000 bubble.

We also now have gone above the 1929 stock market peak and the peak in January 2018.

Those who care about fundamentals know that central bank interventions in both the bond market and the broader economy are deflationary.

Interventions are also the cause of high CAPE valuations which are disconnected from real economic conditions.