US markets feel the joy but not insecure workers

US equity markets have passed the point which signified the longest bull run since the Second World War, writes Jim Power.

Somewhat surprisingly, this landmark event was not greeted with too much euphoria, as there is a lot of nervousness out there that is tending to dampen spirits rather than fuel animal spirits.

However, for those of us who warned at the beginning of this year and probably at the beginning of last year, if my memory serves me correctly, of tougher times ahead for equity investors, the markets have performed remarkably well in the circumstances.