View from the buy side

credit of the month

It is hardly surprising that talk of a bubble in credit has largely dried up given that the US economy grew at an annualized rate of 7.2% in the third quarter of last year and corporate profits before tax in the 12 months to the start of December increased by 16.5%.

Of the five corporate bond strategists who gave their views on credit in last month’s issue of US Credit, all remained upbeat for the market’s prospects. De-leveraging is continuing and spreads over governments do have