Magellan: No virus, no bubble

The untouchable Hamish Douglass of Magellan is tempting fate, at the AFR:

Magellan’s house view is that there is an 80 per cent probability rates stay low for the rest of this cycle, and central banks will be prepared to let inflation run a bit before considering rate hikes.

“It’s very hard to get rates off the floor,” he says. “Because if we try and get off the floor where we are at the moment, we know it’s going to have major effects on asset price and ultimately economic effects.”

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