In the past five recoveries, the return from high-yielders has beaten that from low-yielders by an average of 29 percentage points in the six months after the trough.

拿过去五次市场回升来说，在走出低谷后的半年内，高收益股的回报率就比低收益股的高出29个百分点。

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It seemed odd, though, that sterling should behave more like those racy high-yielders than a stable reserve currency.

ECONOMIST: The pound stumbles as currency speculators cut back on risk

Even when spreads were at their widest, Greece and Ireland, the euro-zone's high-yielders, were able to finance their borrowing needs at a reasonable cost.

ECONOMIST: The gains outweigh the losses