It's different this time - really

pg16-falls-jpg

In recent months, I have written several columns lamenting the razor-thin spreads on offer to investors globally. All my suggested catalysts for change - central bank tightening, corporate downgrades, stress in the mortgage market - have come and gone with credit spreads marching tighter all the while.

Any bull market this persistent raises questions about structural change. Sir John Templeton quipped that the four most dangerous words in investing are 'it's different this time'. In the credi

To continue reading...

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: