The Pulse of Private Equity – 8/12/2019

Tea leaves for multiples

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News this week about the yield inversion will probably have an effect on investor psyche. Inversions have historically predated recessions by as many as 24 months—that particular lag (2005-07) also included a significant rise in the S&P. In four of the last five years, the lag between inversion and the start of a recession has lasted at least a year.