Goldman Joins Chorus Warning Against Yield Curve Panic
- Bank sticks with view on low-but-positive returns for equities
- Fidelity says move getting excessive, advising underweight
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Goldman Sachs Group Inc. added its voice to those advising against panic over the inversion of the U.S. yield curve, which has served as a recession warning in the past.
The proportion of the yield curve thatâs inverted isnât as high as in past recessions, and part of the reason 10-year Treasury yields have slumped can be attributed to dynamics outside the U.S., Goldman strategists led by Alessio Rizzi and Christian Mueller-Glissmann wrote in a note Monday. American credit spreads also arenât telegraphing stress, they highlighted.