Yield Spreads point to bad economic times ahead

In good times even the majority of low rated firms can make their debt payments, but in bad times these low rated firms are the first to get in trouble. Investors know this and the spread between low rated and high rated debt gets larger when the economy slows. Thus, it is more than a little troubling that the risk premium has grown to historic levels. From Barron's:Current Yield - Barrons.com: