If the benchmarks used to determine the value of securities were to suddenly reverse course, the “new normal” could soon be history.

FORTUNE — Seldom have so many of the metrics that influence stock prices strayed so far from the long-term trends we’ve come to consider “normal.” Corporate earnings are far above what’s normal historically, interest rates are way below normal because of Fed intervention, and bond prices that wax when rates wane are hovering at seemingly unnatural heights. 1,120 more words