Is there a bubble in financial markets?

Markets are past the phase of multiple expansion driven by ultra-easy financial conditions

The above title seems to be the topic of the moment among financial market participants. There are strong arguments both for and against, with investment luminaries taking both sides of the debate. Deutsche Bank recently conducted a survey of over 600 market professionals and almost 90 per cent of the participants agreed either strongly or partially that there were bubbles in financial markets.

So, the feeling is widespread. Among survey participants, a large majority felt that Bitcoin and US technology stocks were the two assets deep in the bubble territory. I would add Tesla and the SPACs (special purpose acquisition companies)