So I looked at seven indicators that matter: inflation, employment, Federal Reserve policy, the yield curve, credit spreads, market breadth and volatility, and corporate earnings relative to valuation. 5. Credit Spreads Say Investors Are Calm—Possibly Too CalmCredit spreads measure the extra yield investors demand to own corporate debt instead of comparable Treasury securities. Credit investors are often quieter. The Bottom LineThe seven key indicators are not telling investors to flee. I want equity exposure because earnings growth and market breadth are difficult to ignore.