According to Joseph Yam, the head of the Hong Kong Monetary Authority..

10. August 2009 by Dan Walkow, CFA, CMT.

 there are risks of an asset bubble from surging money flow. In a city-state that lives by the pulse of the stock market, the surprise was that Yam’s comment was relegated to the inside business pages of the leading English daily — the South China Morning Post. Forget bear-market rallies, the hot story now is the new issues bonanza. But should these warnings get more attention?  More here.

More evidence the global liquidity rally is getting long in the tooth. DGW

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