Credit Suisse Warms to Stocks over Credit

Credit Suisse updated its global equity strategy, downgrading credit compared to equities, Reuters reported Friday.

The investment bank credit, saying that credit spreads imply default rates blow the peaks of the last two recession, Reuters said.

Stocks look attractive compared to corporate bonds, while merger and acquisition activity should increase, Credit Suisse said. It also downgraded the European auto section to benchmark from overweight.

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