Concrete numbers are driving market movement. But there’s an undercurrent of fear that can perhaps run contrary to what some of those numbers are saying.
This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribethe U.S. Federal Reserve will reduce interest rates by half a percentage point at its next meeting, strategists told CNBC. Traders agree. A week ago, they bet on a 34.
Simply put, when the 10-year yield is lower than that of the 2-year, the yield curve is inverted – which has almost always preceded a recession since the mid-1970s. The yield curve inverted in early July 2022 and normalized in early September. That said, strategists think a recession is a far-fetched idea, considering the health of the U.S. economy.
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