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No recession or bear market ahead despite slow economic growth and high valuations, says DBS

DBS does not expect to see a recession or bear market in the foreseeable future, despite tepid global economic growth and high equity valuations, the bank said in a note. The PE ratio of the MSCI AC World Index has lifted to around 17, from 9 in 2008. Meanwhile, global GDP growth between 2009 and 2016 was 2.4%, down from…

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