I’ve been doing this a long time - and, I don’t think I’ve ever seen a divergence quite as dramatic as between markets and fundamentals, as I see today. Valuations in both equities and bonds are near their pre-Covid levels, yet the US economy entered recession in February and 40 million people are unemployed. Something extraordinary is going on.

In this podcast, Robert Huebscher of Advisor Perspectives speaks with economist, Dr Robert Gay, a 30-year veteran of equity, foreign exchange and fixed income markets. They discuss Dr Gay’s views on the divergence between markets and fundam...