U.S. GDP grew by 4.9% at an annual rate in the third quarter of the fiscal year, defying a multitude of expectations of a slowdown. Some believe that a recession is on the way, as economic headwinds continue to spook investors and Treasury bond yields spike. Canaccord Genuity Chief Market Strategist Tony Dwyer is one such person, claiming investors need to brace for that eventuality. He joins Yahoo Finance anchors Julie Hyman and Josh Lipton to give insight into what he believes to be an inevitability.
Dwyer postulates that a recession will be necessary to finally get the Fed to make major changes: “Earlier this week, we made [a] new cycle high for bond yields. So, that to me is the real differentiator, is what gets the Fed to change their tone enough that you get those other instruments to have a significant rally that kickstarts and now improved outlook for money.”
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