Markets: hope for boredom

Financial excitement has been in ample supply for ages. The second quarter of 2009 was no exception. Investors should hope that the dramatic rise in most of the world’s stock markets in the period – 15% or so in Europe and the US, almost 20% in Japan and more than 50% in some emerging markets – marks the end of the thrills. Equities rallied because the world averted financial catastrophe. The authorities’ heroic efforts gave investors good reason to stop worrying about meltdown – and plenty of ...