'There's four reasons to be fundamentally bullish' despite coronavirus fears, says Canaccord's Tony Dwyer (via TradingNation)
Thanks to the Fed, reason No. 1 is "easy money," the strategist said.
"You've got a super low inflation rate. The Fed is more fearful of low than high inflation. You've got a super easy Fed. And think of the historic low in corporate bond market yields," Dwyer said. He pointed to the Moody's Baa Bond Index, which measures the yields on the lowest-rated investment-grade corporate bonds.
"The Moody's Baa Index is trading at a record-low yield, which means companies can raise money, any amount of money they want, at the lowest interest rate on record for the lowest … level of investment grade," Dwyer said. "That's a huge deal because you go into a recession when companies need money and don't have any access to it or can't afford it.
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