Is capitulation to the trend near?

Stocks are climbing the proverbial wall of worry indeed, evidenced by this piece in the Financial Times this morning:

“The majority of the world's leading investors do not believe the recent strong performance of stocks and other risky assets is sustainable, according to a report released today.

“The FTSE All World equities index has surged more than 60 per cent since hitting a low for the year in March.