Public sentiment is everything. With public sentiment, nothing can fail. Without it, nothing can succeed. - Abraham Lincoln
If the bond market is to be believed, investors are bracing for recession. If anything, it looks like the trade war is escalating as China and the U.S. both decided to increase both the amount and rate of import tariffs last week. Most of the U.S. Treasury yield curve is already inverted, but the most popular recession indicator, the 10Y/2Y spread, went negative for the first time since just before the financial crisis (although it didn't stay