Credit Spreads Aren't Hiding a Market Timebomb
The corporate world overall is in rude health, with robust profit growth and an improving creditworthiness outlook. That's in direct contrast with government finances, which face increasingly stretched budget deficits. US Treasuries, previously the unimpeachable global market lodestar, are looking decidedly tarnished, and there's a similarly gloomy picture across most of the developed world's government debt assets.
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