With its deep insight into the state of economy, used car prices are a great response if you ever find yourself at an economist’s party playing “desert island indicator.”
The current reading of the Baa-Treasury spread, the dashed line, is consistent with a recession. The chart shows there were no false signals in the past 20 years.
Prices for contracts over the next year are trading at about $30 a barrel. That’s about half the one-year average price of $60 a barrel. But it’s not zero.
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