Recession fears tied to Treasury yields are overblown, Canaccord's Tony Dwyer suggests (US.CBU0) - 29 martie 2022
While investors focus on an unnerving inversion between the five-year and 30-year Treasury Note yields, Canaccord Genuity’s Tony Dwyer is concentrating on optimistic activity in another part of the bond market.
According to Dwyer, the three-month versus five-year yield shows a healthier picture of the U.S. economy because it steepened.
“It measures the difference between what a banker lending institution gets its money at, what they have to pay, versus what they charge or invested at,” the firm’s chief market strategist told CNBC’s “Fast Money” on Monday. “We don’t look for a recession because of that yield curve that’s driving the lending is still very positive.”