This podcast episode explores the importance of credit valuation and the potential risks associated with being negative in the credit market. While spreads are historically low, it is crucial to understand credit valuation and consider the factors that may support or challenge the current levels. Additionally, the episode highlights the challenges of profiting from U.S. treasuries and U.S. equities, emphasizing the complexities involved and the potential costs of being negative too early. It is important to approach these investments with careful consideration and awareness of individual circumstances.
