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Chutes and Ladders

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Is the NASDAQ Going to Fall in a Drawdown?

If there starts to be a selloff, and this goes back to actually the previous chart of the NASDAQ, I think it's going to hit cyclicals harder. The re-steepening of the yield curve is usually what happens right before a recession or when the recession starts. If we go into fear because of a downturn or we start to confirm that a recession might happen, I think you do see yields fall across the spectrum.

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