Share markets across the world are hitting all time highs, raising serious questions about why they should be so robust in such a weak economic environment.
Investors are piling into stocks, apparently because they are eager to take advantage of the United States' easy money policy before it ends.
Last week, Wall Street stocks hit fresh highs on three consecutive days after the Federal Reserve chief nominee Janet Yellen defended the Fed's $US85 billion a month asset-buying programme.
Germany's main stock index, the Xetra Dax, has gained 32% over the year, while Tokyo's Nikkei has surged 68%, mainly due to economic reforms in Japan.
New Zealand's benchmark Top 50 Index has gained more than 24% in the past 12 months.
A Harvard University Professor, Ken Rogoff, says stock markets are the obvious place for investors in the current environment.
But Mr Rogoff says he's still worried about problems in Europe, such as poor progress on banking union and high unemployment.
