Traders work on the floor at the New York Stock Exchange, August 6, 2019.
Brendan McDermid | Reuters
The bond market just flashed its biggest recession signal ever, but one strategist said it’s time to buy stocks.
A key part of the bond market inverted Wednesday when the yield of the 2-year Treasury rose above that of the 10-year Treasury, a phenomenon that for half a century has accurately signaled coming recessions. However, it typically takes nearly two years for a recession to occur after the yield curve inversion, leaving investors room to still reap gains from the stock market, according to Tony Dwyer, analyst at Canaccord Genuity.
“A curve inversion is an intermediate-term buy…