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Your Evening Briefing: US Recession as Self-Fulfilling Prophecy

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Photographer: Peter Juelich/Bloomberg

It’s been a wild year on Wall Street so far, and all that tumult has some traders concerned about extreme scenarios that might engulf the $23 trillion Treasury market. One is a fresh bond selloff thanks to high inflation and the other a sustained rally that sends yields back to  historic lows on—you guessed it—recession fears. That much-predicted future downturn has become a common refrain in financial and media circles. With the echo chambers bouncing the word around at ever-higher decibels, a Nobel laureate economist says there’s a “good chance” one will happen in part because everyone—investors, companies, consumers—is so worried about it

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