It’s always the same. Whenever we’re late cycle and the yield curve inverts indicating a looming recession, bulls come out of the woodwork to describe why this time is different. Albert Edwards takes them to task:
Does the inversion of the US 10y-2y yield curveindicate a recessionis on its way? This is the question everyone is asking right now–even before the Fed tightening cycle has got beyond one paltry rate hike. Fed tightening cycles usually end in recession as they continue along this path until something breaks in the economy or markets.
But it’s not the Fed’s fault…apparently, it’s ours!
