It appears that central banks have distorted financial markets to such a degree that there really is very little fundamental value in buying many mainstream assets at this juncture. And yet, analyst have observed markets some rallying strongly on hopes for more central bank stimulus – policies that have failed to generate robust economic growth and only seems to be increasing inequality which seems to be at the heart of the disgruntled electorate in many developed countries. The main question has to be whether markets have started a multi week rally similar to that seen between February and April when central banks unleashed another round of stimulus. Or, is the current four day rally simply a quarter end squeeze that will soon peter out? Authors are very much leaning towards the latter although it seems that anything is possible in todays distorted market place and so they have to be careful about being too market bearish at this stage.[…]