El-Erian Encourages Piling on Risk If Markets Move to Fundamentals

The transcript discusses the current market environment, emphasizing the need for investors to prepare for increased volatility and less favorable asset class correlations. It highlights the influence of central bank policies on market positions and the ongoing debate between liquidity-driven markets and fundamental-driven markets. The discussion also covers the potential for market inflows and the associated risks, considering the tight credit spreads and the disconnect between liquidity and fundamentals.

What does the speaker imply about the timing for taking risks in the market?

How does the speaker describe the current state of credit spreads?