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What the real threat of recession means for construction

from For Construction Pros

U.S. government bond prices surged recently after data showed the European economy continuing to weaken and a Federal Open Market Committee (FOMC) meeting in which the Fed downgraded its 2019 GDP forecast and paused its plan to raise interest rates two times in 2019. Threats to U.S. economic stability encouraged investment in 10-year bonds which depressed their returns below that of three-month bonds. It’s a rare position known as “yield-curve inversion,” and the condition has preceded all U.S. recessions by one to two years since the 1982. All three major U.S. stock market indices turned down recently on news of the inversion. more

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