A slow and steady summer rally has lifted shares on Wall Street close to their highest levels of the year. But there appears to be mounting concern among investors that the markets have started to outpace the slow recovery of the overall economy.
On Friday, U.S. stock markets closed out their sixth consecutive positive week. The long rally has put the benchmark S&P 500 stock index within a few points of the year’s high. Investors have shown a bigger appetite for riskier assets like stocks just as they have shown less affinity for Treasury bonds.
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