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The Duke professor who uncovered the yield curvea??s recession warning says ita??s time to start preparing for another downturn

The Duke professor who uncovered the yield curvea??s recession warning says ita??s time to start preparing for another downturn
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Duke University Professor Campbell Harvey, the inventor of the inverted yield curve as a recession indicator, said investors should pay attention to the latest signal and prepare in an interview with "The Compound."




Harvey earlier told Bloomberg the yield curve was flashing a "code red" signal.




Given its long track record of predicting recessions, the indicator could serve as a heads up that gives investors time to prepare for another downturn, Harvey said.




Read more on Markets Insider.




Campbell Harvey, the Duke professor who uncovered the inverted yield curve as a recession signal, says investors should start preparing for a downturn now.
"It's way better to have a plan to go by than find yourself in a situation where the recession hits and you have to improvise," Harvey said in an interview with Ritholtz Wealth Management CEO Josh Brown on "The Compound."
The difference between 10-year and three-month Treasury yields has been below zero since May. This so-called yield curve inversion is important because similar kinks have preceded all seven recessions since 1950. Harvey first drew attention to the yield curve signal in his 1986 dissertation at the University of Chicago Booth School of Business.
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