Tweaking Our Forecasts
Recession fears from the yield curve inversion offset the boost from the tariff delay. Trade fears swung around stocks last week before some tariffs were delayed August 13 to avoid impacting the holiday shopping season. On August 14, the first inversion of the 2-year/10-year Treasury yield curve since 2007 sparked recession fears, which caused stocks to erase the prior day’s gains. For the week, a variety of factors weighed on sentiment, including trade, slowing global growth, and plunging sovereign bond yields.
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