When the uncertainty subsides, the decoupling between equity market prices and economic fundamentals will become even more pronounced: What consequences?

The level of public health, geopolitical and economic uncertainty remains high. Yet equity market indices and economic fundamentals have already decoupled. When the uncertainty subsides, this decoupling will become even more pronounced, driven by excess liquidity, which will lead to: A tax on buyers of equities; A m isallocation of savings, as equity market indices will no longer provide information on companies; From a macroeconomic viewpoint, the appearance of bubbles and the risk of a financial crisis if these bubbles burst.