4th Quarter 2018 U.S. Review
The US stock market anticipated a recession in the second half of last year. The 20% decline from the S&P 500 peak in September to the trough in December is confirmation of that. The US bond market probably geared up for one as well, as the decline in bond yields seems to indicate. The odd thing about this is that the Federal Reserve and most economists do not expect one.
Download By TAM Investment Team