Campbell Harvey, finance professor at Duke University and a senior adviser at Research Affiliates, is well known for his research on the yield curve as a recession indicator. While no one could have possibly predicted the cause of this recession – a global pandemic – it’s still true that an inverted yield curve once again predicted an economic downturn. Harvey joins the latest episode of “What Goes Up” to discuss what the bond market is signaling now, along with his new paper on gold.

Mentioned in this podcast:

Gold, the Golden Constant, COVID-19, 'Massive Passives' and Déjà Vu

Fed Minutes Show FOMC Backs Away From September Guidance Shift

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A Market Wearing 'Rose-Colored Glasses'