What about the risks of credit events?

Yields in investment grade corporates are above longer-term averages and offer at least an additional 1.5% pickup relative to short-dated government bonds. Neuberger Berman says there are three important counters to the risk of credit events in this market environment. First, the investment grade market is in one of the healthiest positions seen in a decade. Secondly, cash on balance sheets are close to historically high levels; and finally, from a debt perspective, while debt levels have started to increase, they are manageable.