Martin Fridson: "you don't have the classic signs pointing to recession" (2018)

The key dynamic in the high-yield market is recession.  There's a possibility of some economic shock that isn't apparent right now, but you don't have the classic signs pointing to recession.

~ Martin Fridson, "Yes, Junk Bonds Are Pricey. But the End Isn't Near," Barron's, October 6, 2018