Economic data is pointing to a recession said Tavi Costa, portfolio manager at Crescat Capital.
Last week Costa spoke to Kitco Mining at Deutsche Goldmesse in Frankfurt.
Top indicator is the yield curve, said Costa.
"What we see is that right now about 76 percent of the treasury curve is inverted," said Costa. "Every time we've seen this it's coincided and with a very steep recession. It's hard to believe it's going to be a mid-cycle slowdown."
Kitco Mining's coverage of Deutsche Goldmesse was sponsored by Faraday Copper.
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0:20 - It's unlikely that the Fed will manage a soft landing.
2:00 - What the steep yield curve means.
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