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Jun 06 2025

Equity Managers Are Betting Against Recession

  • Jun 6, 2025

There have been wild gyrations in the S&P 500 Cyclical/Defensive Ratio over the last year against a backdrop of historically high Cyclical valuation premiums. In other words, there’s no recession bet priced into the equity segments that should most reflect it.

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About The Author

Doug Ramsey / Chief Investment Officer & Portfolio Manager