Why the sharemarket frenzy could fizzle

The Reserve Bank's rate cut has seen domestic investors pour money into high-yielding stocks, but continued economic sluggishness could dent corporate earnings growth.

For once, the local stockmarket is outperforming the rest of the world.

The benchmark S&P/ASX200 index has rallied for 12 days in a row, something it has not done before in its 15-year history. The All Ordinaries hasn’t had a run like this since 1986 (does anyone remember what happened in 1987?).

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