During recessions, investors tend to shy away from triple-C debt. Sounds like a no-brainer, right? Not quite. Monetary policy makers tend to respond to recessions with rate cuts, which set the stage for a trend that makes corporate borrowers much better equipped to repay their debt. With the Fed feeling the sting of slowing global growth and signaling that the cuts may be on their way, US corporate bonds should by extension become more attractive. “But for the junkiest of the junk, the trend doesn’t hold,” the Financial Times’ Brooke Fox explains (watch, runtime: 3:21).