Why the US bull market has room to run

Friday, 6 October 2017

Moody’s has a nice post today on the role of credit markets in the business cycle:

Rate Spike Would Tame the Bulls

The US equity market may continue to set new record highs as the VIX index lengthens its stay under an extraordinarily low 10 points. Ample liquidity implies that a recent high-yield bond spread of 359 bp might soon dip under 350 bp.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.