From the text Web site, link to the St. Louis Fed site for data on the high-yield spread and on the unemployment rate.
a. Graph unemployment on the horizontal axis and the spread on the vertical axis, with a point for each year from 1970 to the present. What do you learn from this graph?
b. Graph the recent behavior of unemployment and the high-yield spread, with time on the horizontal axis. Plot the two variables for every month from January 2007 to the present. What do you learn from this graph that you didn't learn from the graph in part (a)?