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Major new recession warning sign sends market futures tumbling downward

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The financial world was hit on Wednesday with a major new red flag about a potential recession that sent stock market futures tumbling downward.

As Bloomberg reports, the yield on the ten-year U.S. Treasury bond has dropped below the yield of the two-year U.S. Treasury bond for the first time since 2007, which many market observers say is a leading indicator of a coming recession.

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Yields on ten-year bonds are usually higher than yields on two-year bonds because there is greater risk involved in investing in a long-term bond, which means investors in those bonds demand higher payouts than investors in short-term bonds.

But when the so-called yield curve inverts — that is, when ten-year bonds actually pay less than two-year bonds — it is seen as a sign that investors believe there are significant risks to the economy and are flooding their cash into safe harbors.

As for what this means for the U.S. economy as a whole, Bloomberg analyst Joe Wiesenthal writes “the last three times this happened, U.S. recessions soon followed.”

Pre-market trading on Wednesday showed futures of the Dow Jones Industrial Average trending downward by 1.44 percent, with the Nasdaq down by more than 1.5 percent.


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‘Enraged Trump supporters vowed to kill me’: Michael Cohen reveals what happened after he flipped

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Donald Trump's former personal attorney says he has received hundreds of death threats after flipping on the president of the United States.

Cohen revealed the threats in the forward to his forthcoming book “Disloyal: A Memoir. The true story of the former personal attorney to President Donald J. Trump.

"The President of the United States wanted me dead," the forward begins. "Or, let me say it the way Donald Trump would: He wouldn’t mind if I was dead. That was how Trump talked. Like a mob boss, using language carefully calibrated to convey his desires and demands, while at the same time employing deliberate indirection to insulate himself and avoid actually ordering a hit on his former personal attorney, confidant, consigliere, and, at least in my heart, adopted son."

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The foreword for Michael Cohen’s book is out — and it contains allegations of deviant sex acts and a backchannel to Putin

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President Donald Trump's former "fixer" Michael Cohen was unfairly targeted by judges attempting to silence his tell-all book slated to be released before the election. However, Cohen prevailed and his new book Disloyal: A Memoir. The true story of the former personal attorney to President Donald J. Trump is scheduled to be released by Oct. 6, according to Amazon, but Cohen had initially said he hoped to have it out by the end of September.

Cohen has already released the foreword of the book on the site for the book, which is getting so much traffic it keeps crashing.

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Trump has until the close of business Friday to prove ‘vote-by-mail fraud’ in Pennsylvania: Federal judge

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CNN's Jim Sciutto reported Thursday that President Donald Trump, his campaign and the Republican Party was given 24 hours to prove that there is vote-by-mail fraud in Pennsylvania.

https://twitter.com/jimsciutto/status/1293990702037241863

"The Court finds that instances of voter fraud are relevant to the claims and defenses in this case," Federal District Judge J. Nicholas Ranjan said in an opinion. He told Republicans they would have to provide evidence of the fraud to the Democratic Party and the Sierra Club, groups part of the lawsuit.

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