for example, the buildup of leverage over the course of the last several years has been a -- normous.s not been in any one sector, it has been across many sectors with the buildup and leverage. and compensators are getting paid for taking on the everage. spread per unit leverage it is -- is nearly at an all-time low. we think it makes sense to keep going up in the quality spectrum at this time. jonathan: j.p. morgan asset management, for a while, has stayed bullish high-yield. the message from bob michael is don't get greedy. is that something you guys are still thinking about as you look at this situation? it is time to fall back, go up in quality. is this just a buying opportunity for you? iain: definitely. when we look at yields a month or so ago, 5.4%. it was probably a little too low. but we have seen a decent backup. our yield is now rounding out around the 6% level. spreads are about 40 to 50 basis points wider. we see this as a great opportunity. we see default rates remaining very low, corporate health is strong, and the u.s. economy looks great for us. jonathan: let's talk a

i don't think this takes an normous amount of mental effort.e -- the cubans who come back in venezuela, the tens of thousands who have done know, do keep saying this is not a competent government. it's not a revolutionary government. they may not then take logical what the heck are we doing this but it is not -- and incumbent president, unlike hugo chavez, his predecessor lacks skills, not just competence. is not inconceivable for cuba is to our main interest save our relationship with venezuela, of this particular incumbent is an obstacle. >> c-span's "washington journal" everyday with news and policy issues that impact you. veteran's day weekend on saturday, final alute founder jas pen booth discusses her organization, which provides aid to homeless emale veterans and their amilies and everett lvaresidence talks about being held captain for eight years and rye barcot, marine veteran and co-founder and c.e.o. of with honor explains the group's number of increase elected veterans in office. be sure to watch "washington live at 7 eastern saturda

company is based in new jersey, says the economic benefits amazon would bring to a philadelphia are gi-normous. >> you have $5 billion in payroll that drops into your market now that wasn't there before. you're creating contractor opportunities, the coffee shop and the hair salon, and millions of others that are all generating more activity to themselves. they're all spending more because they're making more. >> reporter: the benefits are why 238 bidders are in the game. but in any transaction, there are also the costs. forever bidding against each other for new business, cities and states dangle not just prime real estate but money, mainly tax breaks. case in point: outgoing new jersey governor chris christie's newark bid: >> all of the economic incentives put together from the city and the state would realize $7 billion in potential credits against amazon state and city taxes. >> reporter: so what's the cost/benefit bottom line? >> these tax incentives are not good for taxpayers. >> reporter: brookings scholar amy liu studies regional economic development. >> the bulk of job creation in a st