'Until we get some tangible signs that the economy's picking up, you're going to have to get used to the market,' Jim Cramer says.
reiterated what he thinks about a measure that many economists consider to be a reliable recession indicator: "I think the yield curve linkage is wrong."
Cramer isn't convinced that the yield curve inversion, where the 2-year bond pays out more than that of the 10-year bond, which has preceded each recession of the past 50 years, is flagging this time that a severe economic slowdown is in the works. His reasoning is based on the fact that U.S. bonds are yielding more than foreign bonds, which is drawing overseas demand for American bonds.
"All that foreign ... buying has created an inverted yield curve, where short-term rates are higher than long-term ones," Cramer said.
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