Preservation of capital is fast losing ground to increased risk-taking as global equity markets close the quarter with a stellar performance.
Investors are concerned that they will miss the accelerating upside move.
Out of the 78 major financial markets around the world, the score is 66 positive in the first quarter, with 50 per cent achieving double digit gains, and only 12 negative.
In the US, the Dow Jones Industrial Average rose 8.14 per cent and the S&P 500 rose 12 per cent, their best first-quarter performances since 1998. The Nasdaq advanced 18.67 per cent, its best first-quarter performance since 1991, thanks mainly to a stunning 50 per cent gain in Apple. …