Commentary
The reality of record-high inflation, combined with a hawkish monetary policy, is slowing the economy sharply and has led to the current U.S. recession: two back-to-back quarters of negative growth. The economic contraction should soon cause inflation to roll over along with bond yields; but that isn’t necessarily indicative of a new bull market. It is much the same process that occurred leading up to the Global Financial Crisis of 2008.
