Half of corporate bonds are junk

That’s literally, not figurately, if you substitute “junk” for Standard and Poor’s “speculative.” And, it’s going to get worse:

S&P said the ratings mix of corporate bonds continues to deteriorate as firms borrow to buy back shares and make acquisitions, but the key factor to the deterioration is simply the sheer number of lower-rated bonds coming to market.

Can you start saying “recession”?