The disconnect between the real economy and record-high financial markets worldwide is worrying, according to the Bank of Thailand, as asset prices soar despite mounting shifts in global trade.
“Nobody would have thought that the huge change in the global trade configuration or landscape would take place against the backdrop of ever-increasing stock markets and compressed risk spreads,” Piti Disyatat, BOT deputy governor, said in an interview at his office in Bangkok on Thursday. “As central bankers, we naturally get nervous about this disconnect a little bit.”