Market bubbles only burst when central banks tighten — and there’s so sign of that, says B. of A. strategist

1. Share prices and valuations show froth amid inflation concerns. 2. No central bank has increased rates in the past two months. 3. S&P 500's recent lows were recorded on trading’s first day for five months. 4. Equity funds attracted $152 billion, indicating market confidence. 5. Investors prefer higher equities over bonds, shifting traditional portfolio models.