Twitter (NYSE:TWTR) - UK Labour Politician Slammed For Quoting Ayn Rand
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Two house price inflations, two central banks
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The euro-area faces elevated risks to financial stability as it emerges from the pandemic with high debt burdens and “remarkable exuberance” in markets as bond yields rose, according to the European Central Bank (ECB). The language, echoing former Federal Reserve Chairman Alan Greenspan’s description of the dot-com bubble in the 1990s as “irrational exuberance,” highlights mounting concerns that the flood of fiscal and monetary stimulus needed to fight the crisis is also building up dangerous imbalances. If more upward surprises in US inflation prompts investors bet on earlier monetary tightening, driving up bond yields without an accompanying improvement in economic growth, “spillovers from US equity market repricing could be substantial,” the ECB said in its Financial Stability Review on Wednesday. “A 10 per cent correction in US equity markets could therefore lead to a significant tightening of euro-area financial conditions, similar to around a third of the tig