The Economist is warning that while stocks prices are still off their past peaks, there is overvaluation in the marketplace. Combine that with low interest rates and, as the article argues, there is a bubble forming.

Aside from high asset valuations, the two classic symptoms of a bubble are rapid growth in private-sector credit and an outbreak of public enthusiasm for particular assets. There’s no sign of either of those. But the longer the world keeps its interest rates close to zero, the greater the danger that bubbles will appear—most likely in emerging markets, where growth keeps investors optimistic and currency pegs import loose monetary policy, and in commodities.

Agree that such a bubble is forming?