Investors are nervous about signs, that a US-Recession is coming. The world’s biggest economy seems healthy by many measures: low unemployment, strong exports, a resilient housing market and sky-high consumer and business confidence. But wider credit spreads and a flattening yield curve in the $9 trillion corporate bond market are potentially dangerous dynamics. For example the risk premiums (spreads) on Baa-rated corporate bonds over Treasuries increased to 2 percent this month. This milestone was reached either during or just before six of the past seven U.S. recessions since 1970.