Default rates have just hit their lowest point in eight years: https://www.federalreserve.gov/releases/chargeoff/delallsa.htm https://www.federalreserve.gov/re

Default rates have just hit their lowest point in eight years: https://www.federalreserve.gov/releases/chargeoff/delallsa.htm https://www.federalreserve.gov/releases/chargeoff/delallsa.h... From this halcyon point, there's more downside risk than upside going forward. Unless the cyclical nature of debt defaults suddenly stopped after centuries.