Charts of the Day: Papal Stock Market Cycle (?), US High Yield Credit, Corporate Bond Spreads and Profit Margins

The Papal Stock Market cycle? [Source Business Insider]

Divergences! US stock markets soar as... 

...high yield credit stress surge! [Source David Stockman's Contra Corner]

...corporate bond spreads widen! [source Gavekal Blog]

...and as corporate profit margins tip towards recessionary levels! [source Barclays/Business Insider]