Markets are at all-time highs as we await the FOMC’s latest decision on interest rates.
Note that we’re going on 21 months of a yield curve inversion, the longest since August 1978 to May 1980. Interestingly, the market was flirting with new, all-time highs back then as well.
Also interesting, that was one of many inversions that was followed by a recession. In fact, every inversion was followed by a recession.
Is there any reason to expect that this time will be different?
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