Relatively low risk of a U.S. recession justifies an optimistic view on stocks, according to Andrew
Garthwaite, a global strategist at Credit Suisse Group AG. In a report Tuesday, he cited a recession indicator compiled by the Federal Reserve Bank of New York. The monthly gauge is derived from the yield gap between three-month Treasury bills and 10- year notes. February’s reading is 4.2 percent, far below a 20 percent threshold that’s usually crossed before the S&P 500 Index reaches a peak.
Source: Bloomberg Pro Terminal
Trader Bozhidar Arabadzhiev
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