Investors ditched shares on Monday and fled to the safety of bonds while the Japanese yen hovered near a six-week high as risk assets fell out of favor on growing fears about a U.S. recession, sending global yields plunging.
Concerns about the health of the world economy heightened last week after cautious remarks by the U.S. Federal Reserve sent 10-year treasury yields to the lowest since early 2018. “Growth, and bonds/yield curves, will be the only thing stocks should be focused on going forward and it’s very hard to envision any type of rally until economic confidence stabilizes and bonds reverse.”
“The risk of a U.S. recession has risen and is flashing amber and this will keep markets pricing a high chance of the Fed cutting rates,” said London-based NAB strategist Tapas Strickland. “We suspect that drawing a recession conclusion from such data is not warranted until the 3M-10Y yield curve is inverted by a substantial amount,” Carnell said. “Just inverted as today’s markets indicate, doesn’t do it for me.”Much of the concerns around global growth is stemming from Europe and China which are battling separate tariff wars with the United States.A nearly two-year U.S.
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