“Corporate margins reaching record levels”

US profit margins were at a record level and had expanded in the past three years even as output fell.

“Margins have been as good as it gets,” says Graham Secker, European equity strategist at Morgan Stanley. He adds corporate profitability over the past 20 to 30 years has gained from factors such as technological advances, falling corporate tax rates, low funding costs and declining commodity prices.

via ft.com