Identifying Asset Bubbles: The Citigroup view

Citigroup has just released a research report which attempts to identify asset bubbles.  No surprise that they see government bonds as generally the most expensive assets, equities in the middle and commodities as the cheapest.

Interesting to note that the Citi view that Developed Market equities are about 0.5 SD overvalued is quite similar to our own composite macro risk measure which is just under 1 SD overvalued.  See here.

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