可以详细说明下两个周期的区别吗

问题如下：

Credit spreads are most likely to narrow during:

选项：

A.

economic contractions.

B.

economic expansions.

C.

a period of flight to quality.

解释：

Correct Answer: B

Credit spreads narrow during economic expansions and widen during economic contractions. During an economic expansion, corporate revenues and cash flows rise, making it easier for corporations to service their debt, and investors purchase corporates instead of Treasuries, thus causing spreads to narrow.