Need to Know: Break out the pompoms, because this asset is leaving stocks in its dust

There’s a growing dearth of cheers when stocks break records, like the Dow did yesterday with its 10th-straight winning close.

“There should be a deeper concern this record run in the U.S. stock market is grossly disproportionate to all of the uncertainty and systemic risk in the global economy right now,” Joel Kruger, currency strategist at LMAX Exchange, tells MarketWatch.

“The rally is more analogous to a person climbing a dangerous ladder, only doing so in an effort to avoid infection from a sick person chasing below,” he says.

The new records for stocks are raising anxiety levels, because no one knows when or how the POTUS-fueled reflation trade will end, according to London Capital Group analyst Ipek Ozkardeskaya.

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