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Inversion, what inversion? (regarding the US yield curve)
The media focus on the microscopic inversion of a very small part of the US yield curve is symptomatic of a situation where investors have lost all their usual landmarks. Since the prevailing market sentiment is risk-off, any information, however biased, will do to justify the gloom, even if it means ignoring everything else. A few reminders might be timely here. The yield curve is not a miracle tool. Its track record as a leading indicator of US recessions is good, not infallibl...
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Oddo BHF
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
Bruno Cavalier
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