Who CARES if credit spreads narrow, and asset prices — including equities — go up?

谁会关心如果利差收窄和资产价格(包括证券)上涨呢？

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Since 1930, no cycle has seen corporate credit spreads narrow so much so quickly, suggesting a rush to anything that pays a yield.

自1930年以来，没有哪个经济周期的企业信贷利差像现在这样快速大幅收窄，这似乎表明人们在一窝蜂追逐任何能产生收益的资产。

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Credit spreads remain very narrow, which may indicate a focus on near-term growth and plentiful liquidity.

FORBES: More Malpass: Watch for 2007 Slowdown

In the credit markets for bonds, loans and credit derivatives, spreads that had been wide began to narrow (see chart).

ECONOMIST: Telecoms debt