HIGH YIELD SPREAD EXPECTATIONS HEADING INTO A RECESSION

"HY spreads do not have a recessionary look at all" ... but let's see what happens when the QE stops buying corporate bonds.

https://www.zerohedge.com/sites/default/files/inline-images/HY%20recession_0.jpg?itok=E3OSNztZ

"The energy sector suggest there is some chance of a recession in 12 months, but not sooner."

https://www.zerohedge.com/sites/default/files/inline-images/energy%20sector%20recession.jpg?itok=6bPwgtAa