Fed Minutes Quantified Probability of Recession, Giving Almost 50-50 Chance

Markets Core bonds rallied yesterday. US Treasuries vastly outperformed Bunds, catching a bid from economic data and the FOMC minutes. US PMIs all fell more than expected and (deeper) into contraction territory. The final reading of the U. of Michigan consumer confidence was slightly better but details are worrying with more than half of the […]

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