08-16-19 Weekly Bottom Line
- There was no summer vacation from financial market volatility last week as investors were increasingly worried that the global economy is about to slip into recession.
- The difference between the 10 and 2-Year Treasury yields turned briefly negative last week, sending a signal that bond investors expect the economy to get worse before it gets better. While the risks of a recession have risen, we are not there yet.
- The U.S. data was mixed last week, with evidence that tariffs are impacting prices and the factory sector. Consumers continue to be the bright spot, and there were signs that housing may be firming too.
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