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If credit (default) risk is the only reason for yield differentials, then what is the default risk premium? During the Great Recession, Highest-Quality Corporate offered

If credit (default) risk is the only reason for yield differentials, then what is the default risk premium? During the Great Recession, Highest-Quality Corporate offered 0.8% above UST of the same maturity, while medium quality corporate offered 3.1%. How do they compare today explain why there may be any change?

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