Additionally, we tend to take a cautious stance on credit risk in this mature stage of the business cycle given limited spread - tightening potential. (pimco.com)
As a day trader, one needs to ideally remain aware of what part of the business cycle one is in, as this has important implications for how to trade bond duration. (daytrading.com)
Bottom line: While there are clear signs that we are in the late - cycle phase, some time remains before we near the end of the business cycle. (morganstanley.com)