Weekly Market Snapshot – August 19th, 2019
Created by: Sam Tenney
- The 2-year and 10-year US Treasury yield curve inverted briefly intraday Wednesday, August 14th for the first time since 2005. This 2/10 inversion may be an early sign of recession, since it has proceeded the last 5 recessionary periods.¹
- General Electric has been accused of hiding monetary losses in the amount of 38.1 Billion by the firm who uncovered Bernie Madoff’s Ponzi scheme. If this is true GE is currently operating on negative $20 Billion in its long term care cash flow and has a true debt to equity Ratio of 17:1, putting its credit rating in deep junk territory. The DOJ and SEC are investigating the accuracy of the accusations.²
- The week ahead will see a large focus on this month’s Global PMI numbers, as well as the Jackson Hole Economic Policy Symposium which begins on Friday, August 23rd.³
3. Weekly Market Recap.” Weekly Market Recap – J.P. Morgan Asset Management, JP Morgan Chase, 12 August 2019, am.jpmorgan.com/us/en/asset-management/gim/adv/insights/weekly-market-recap.
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