In a new report, Morgan Stanley analyst Adam Richmond discussed the firm’s new bullish take on investment grade (IG) credit. According to Richmond, the potential for a U.S. recession has already been priced into many IG valuations, making them a compelling risk/reward opportunity for investors.
“Any way we slice it, valuations are cheap,” Richmond explained. “IG spreads are now just 6bp from the widest point during the 2001 recession.”
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/www.benzinga.com/analyst-ratings/analyst-color/16/02/6234628/morgan-stanley-likes-investment-grade-credit-says-valuat alt=Morgan Stanley Likes Investment Grade Credit, Says Valuations 'Rarely Cheaper'>Full story available on Benzinga.com
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