Jim Cramer explained why he doesn't believe the economy will enter a severe recession.
gained, with the 10-year yield up by nearly 11 basis points at 3.64% and the 2-year yield rising about 18 basis points to 4.48%. Yields and prices move inversely., doubled down on his stance despite the worrying moves in bond yields.
"I'd even go as far as to say that the bond market's wrong … long-term bond yields are lower than short[-term] ones, signaling a recession, and I think that's simply incorrect," he said.January jobs report . Nonfarm payrolls grew by 517,000 last month, far surpassing the Dow Jones estimate of 187,000 and December's gain of 260,000.
"That number unequivocally supports the notion of a soft landing. You simply can't get a hard landing when you're seeing this much job creation," he said.at no cost to help you build long-term wealth and invest smarter.
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