Mike Darda at MKM Partners isn't comforted by the rebound in stocks, believing the credit...

|By:, SA News Editor

Mike Darda at MKM Partners isn't comforted by the rebound in stocks, believing the credit markets signal darker days ahead. High yield spreads suggest a 30%-plus downside to analysts’ earnings expectations for the next year, he says, and a collapse in the two-year/10-year term spread suggests deep pessimism about future growth prospects.