We disagree with the idea that the valuations of most “risky” assets have risen to unsustainably high levels. In fact, we think that the valuation of the US stock market could have scope to rise a little higher, and the spreads of US corporate bonds fall a bit further, over the next few years.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.