This Time Is Different… Is It? The High Yield Bond Market Holds The KeySteve Blumenthal
“There’s a lot of reasons to think that it has been a recession predictor for reasons in the past that kind of don’t apply today.” – John Williams, President and CEO, Federal Reserve Bank of New York
Is it different this time? Williams is saying yes. The bond market is saying no. After nine Fed hikes since December 2015, the market is expecting the next move to be a rate cut.
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