There is a famous BusinessWeek cover proclaiming the death of equities, which was published shortly before one of the most powerful bull markets in history was about to commence.

Is a columnist at Bloomberg ringing the same bell?  A few days ago, William Pesek proclaimed "the death of corporate bonds."

That’s the word the former Treasury secretary used in August to explain the firepower of hundreds of billions of dollars of U.S. stimulus. In November, China rolled out its own $586 billion bazooka. India, Indonesia, Japan, Malaysia and Singapore intend to raise spending to boost growth.

Two things are worth noting about this unprecedented deluge. One, it marks the end of the corporate-bond market as we know it. It’s not going too far to declare corporate bonds dead for the foreseeable future. Two, Asia’s efforts to develop deeper debt markets are now on the backburner.

Is it time to buy corporate bonds?