In the United States and Europe, the high-yield spread…

In the United States and Europe, the high-yield spread spikes upward during recessions and default rates go through the roof. Weak firms and companies that are investing heavily and burning cash struggle and often go bankrupt.

— from The Flight Plan (Purpose/Wisdom/Risk) · Humble Investor: How to Find a Winning Edge in a Surprising World by Daniel Rasmussen

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