There does seem to be this dichotomy of views with some saying the equity markets are still undervalued when others are saying that is not the case.
I still doubt the sustainability of the equity momentum. However, we have now built a base that we will bounce off of, and that means 6,300 is definitely within sight.
The one thing that has worked against the equity market pushing higher is that the UK bond market has been hammered, and yields have subsequently risen. Before it was a one-way bet, but now people are having to be more thoughtful.