Do you think that there's a recession on the horizon?
Despite what you might see on the news or on your Twitter timeline, there is no recession on the horizon according to Jeffrey Cleveland, chief economist at Payden & Rygel.
"So, you could tell a story of a weakening global economy, and you had some good data to back that up in the last six to nine months. We think that's changing. So, it's always tough for investors. In real time, we have to be thinking forward, not to looking back at what the data has done. So, I'm betting on improvement here," Cleveland told TheStreet.
But he's not convinced that U.S. and China can reach a trade deal.
"I don't know whether that gets done. I think there's some reason to be optimistic that something will get done in the near term, but I wouldn't build our case on that. Much more important for us is the global economic momentum. If we're right that we're bottoming, we're going to accelerate over the balance of the year. That's going to outweigh everything else, I think," he said.