US recession alert: Trump panic as shock figures released – ‘On borrowed time'

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An inverted yield curve has sparked panic among investors, CNBC is reporting this morning. Bank of America technical strategist Stephen Suttmeier said the US was now on “borrowed time”, following the release of worrying figures in the 2- and 10-tear Treasury notes. Mr Suttmeier said: “The US equity market is on borrowed time after the yield curve inverts.

“However, after an initial post-inversion dip, the S&P 500 can rally meaningfully prior to a bigger US recession related drawdown.

“While yield curve inversions can be a leading indicator of economic weakness or recession, they are an early warning sign.

“Going back to 1956 it has taken between eight and 24 months for a US recession to start after a yield curve inversion.”

This is a developing story, more to follow…

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