Entering 2023, more than 85% of economists expected a U.S. recession before year’s end. They had good reason: The yield curve, usually a harbinger of recession, inverted in July 2022, when rates for two-year Treasury bonds surpassed those for 10-year bonds. Meanwhile, on Main Street, Google searches for the term “recession” hit the highest mark…

To say this has been an interesting year in financial markets is an understatement. Equities have been stronger than most expected, and the 10-year U.S. Treasury yield is up 37 basis points as of September 13. So where are we now as we head into the homestretch of 2023? I believe we’re on the cusp…