《《20160819 Global_Research_Highlights_Investment_St》.pdfVIP

Global Research Highlights Investment Strategy Global 19 August 2011 Recession fears and risk Joseph Zidle +1 646 855 5854 Strategist MLPFS Markets began to price in a new recession joseph.zidle@ A recessionary reading from the Philly Fed Index this week caused a dramatic Swathi Putcha +1 646 743 0198 Strategist decline in bond yields and continued equity weakness, particularly in cyclical MLPFS sectors. The 10-year Treasury yield, a common barometer for economic growth, swathi.putcha@ fell to its lowest level in history as investors piled into safe haven assets. Investment Strategy MLPFS Positioning for a