► Subscribe to the Financial Times on YouTube: http://bit.ly/FTimeSubs<br /><br />Interest rates may be the cost of money, but higher rates have no mechanical link to share prices. The FT’s James Mackintosh says valuation matters for returns, but the inherent uncertainty makes many prefer to focus on short-term rate moves.<br /><br />► FT Markets: http://bit.ly/1J5HNd3<br /><br />► FT Wealth: http://bit.ly/1e3996C<br /><br />For more video content from the Financial Times, visit http://www.FT.com/video<br /><br /><br />Twitter https://twitter.com/ftvideo<br />Facebook https://www.facebook.com/financialtimes
