Currently the difference between two and ten-year US Treasury bond yields is at its lowest level since 2007, raising fears of an imminent recession. Our base case scenario remains one in which we continue to see a slow, synchronised global expansion. As such we see better value at the front end of the US yield curve and some evidence of mispricing further out, rather than a canary in the coal mine. Nonetheless it is worth spending a minute taking the temperature of the global economy.
Richard Stutley (CFA) of Momentum Global Investment Management, one of our UK regulated, discretionary fund managers shares their view. Click here to learn more.