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A Wall Street investment chief overseeing $26 billion breaks down why recession fears are overblown, even as the market clamors for Fed relief

A Wall Street investment chief overseeing $26 billion breaks down why recession fears are overblown, even as the market clamors for Fed relief
(AP Photo/Carolyn Kaster)



Some industry watchers argue that the recent yield-curve inversion is due to low inflation, and therefore not a sign of recession.




"It's hard to make the case that the US economy is heading towards a recession," said Mark Heppenstall, who helps oversee $26 billion as chief investment officer of Penn Mutual Asset Management.




Still, the bond market continues to put pressure on the Federal Reserve to cut interest rates, a move usually reserved for a weakening economy.




View Markets Insider's homepage for more stories.




Not everyone watching the bond market sees signs of recession looming ahead.
The yield-curve inversion between 10-year Treasurys and 3-month notes is a signal of low inflation, not an imminent recession, according to Mark Heppenstall, who helps oversee $26 billion as chief investment officer of Penn Mutual Asset Management.
Still, Heppenstall told Business Insider in an exclusive interview that "it feels as though the bond market has built in a lot of bad economic news and continued low inflation."
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