Bloomberg Opinion: Optimism Is Justified. Valuations? Not So Much

Credit Benchmark CCI data on the credit quality of US, UK, and EU Industrial companies has been cited by John Authers in his Bloomberg ‘Points of Return’ column. He writes:

In credit as in stocks, the good news from the fight against the virus has created a level of justified optimism. The current direction of travel seems to be justified. What remains far harder to discern is whether the incredible valuations of both credit and equity can possibly be sustained if central bank support were to be removed. 

Bloomberg, May 24, 2021.

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Credit Benchmark brings together internal credit risk views from over 40 leading global financial institutions. The contributions are anonymized, aggregated, and published in the form of consensus ratings and aggregate analytics to provide an independent, real-world perspective of credit risk. Risk and investment professionals at banks, insurance companies, asset managers and other financial firms use the data for insights into the unrated, monitoring and alerting within their portfolios, benchmarking, assessing and analyzing trends, and fulfilling regulatory requirements and capital.