In Britain the FTSE 250 hit a record high (again) yesterday.
In the US meanwhile, indices have been setting records with near-monotonous regularity.
Little such excitement in Australia, alas, although the XJO (ASX 200) is now finally threatening to break to new multi-year highs.
This will be an overdue and useful boost to superannuation balances, and thus household wealth and confidence.
The rebound in the ASX 200 has largely been driven by the massive rebound in Australia's key commodity prices, which has pumped up the earnings of resources companies.
PE ratios remain neither wildly expensive nor cheap at around the mid-teens level.