There’s some good research on marketwatch.com this morning that illustrates the fact that no interest rate inversion (10s1s) in the past 70 years occurred without a subsequent recession. The average lag was about 14 months, meaning that we’re now officially overdue.
Furthermore, none of the post-inversion equity rallies lasted. Every single one was completely reversed, resulting in a bear market. Food for thought.
It’s another quiet morning so far, with futures flat for the most part after testing our 20-day moving average target yesterday.
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