We titled our Spring Newsletter: “The Check Engine Light is on,” which was triggered by the inversion of the yield curve. That is an age-old indicator of stress in the financial system, which has often preceded an economic recession. In the past 50 years, every recession has been preceded by an inverted yield curve. Importantly, not every yield curve inversion has led to a recession.
To read the complete Bedell Frazier Fall Newsletter, please click here.