SocGen's Edwards: Trade war recession fears a 'red herring'

In his latest research note, the notoriously bearish investor also dismissed the idea that yield curve inversion is a "necessary" or "sufficient" indicator of a recession. Edwards said: "The assumption that the increasing drumbeat of a trade war is the likely trigger to causing a US (and global) recession may be a red herring - albeit a rather pungent one that cannot be completely ignored." At the time of writing, US 2-year treasuries are yielding 1.86%, while 10-years are yielding 2.1%. Edwards said that while "some commentators still cling to the belief that because the 10y-2y ha...