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MarketWatch: “U.S. corporate bonds flash ‘green light’ for further stock-market gains as equities soar in 2023”

By datatrekresearch in IN THE NEWS MarketWatch: “U.S. corporate bonds flash ‘green light’ for further stock-market gains as equities soar in 2023”

Excerpt from MarketWatch quoting DataTrek co-founder Nick Colas:

.... "The bond market is expressing confidence in company cash flows, flashing a sign of support for the stock market’s rally, according to DataTrek Research

“U.S. corporate bond spreads continue to tighten and are now essentially the same as 2017–2019,” said Nicholas Colas, co-founder of DataTrek Research, in a note emailed Monday. “That is a green light for further stock market gains.”

Declining corporate bond spreads over comparable Treaurys signal rising confidence in future cash flows and earnings, said Colas. Both investment-grade and high-yield bonds have broadly seen their spreads tighten over the past few weeks to average levels seen in 2017–2019, when conditions in the economy were generally good, his note shows"....

Full article here on MarketWatch.

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