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BNP Paribas Asset Management

2023 Top 500 ranking: 34

Mid-Year Update – Getting the yield curve wrong

Mid-Year Update – Getting the yield curve wrong

Many investors have been puzzled for most of this year by an inverted US yield curve, which along with economist forecasts and CEO surveys signals an impending recession. At the same time, the performance of risk assets suggests a much brighter outlook. Which is right and which is wrong?

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