Happy May Day! Despite the defensive posture the title of this post evokes, I am bullish on the US economy. And as a result, I am not bearish on risk assets, despite the flattening yield curve. I believe recession is not imminent. And as such, we have ample time to prepare our portfolios for an eventual bear market. Let me explain below.
The basics of the Treasury curve
I started talking about this yield curve flattening - where the premium investors receive for holding longer maturity Treasury ...
As this site is now reader-supported via Patreon, the remainder of this article is only available to subscribers at a specific patronage level. Articles at patronage levels BRONZE, SILVER, and GOLD are denoted by the categories in blue capital letters above the post. Posts categorized DAILY are available to both SILVER and GOLD patrons.
Edward Harrison is the founder of Credit Writedowns and a former career diplomat, investment banker and technology executive with over twenty five years of business experience. He has also been a regular economic and financial commentator in print and on television for the past decade. He speaks six languages and reads another five, skills he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College.