Donald Trump signed an EO to create a U.S. sovereign wealth fund (SWF). At first, this might seem confusing. Why would a country that...

For much of the past two years, markets and economists have flagged an impending U.S. recession. Yield curve inversions, tightening credit, and deteriorating sentiment painted a classic late-cycle picture. However, high-frequency and liquidity-based indicators now challenge that narrative.