credit01 Michael Shaoul,Credit cycles have tremendous momentum,

“People are beginning to smell the credit cycle turning,”Michael Shaoul, chairman of Marketfield Asset Management and chief executive officer of New York-based brokerage Oscar Gruss& Son, said in an interview. “Credit cycles have tremendous momentum, and whenever they turn you want to pay attention,”said Shaoul, who recommends selling high-yield bonds in emerging markets and betting on further losses in bank shares.