Analysts at Jefferies pointed to a “perfect” storm in the final months of 2018, including high oil prices, a strong dollar and an upward shift in the U.S. yield curve, which left markets in flux. “In one sense, investors appear to have already priced a recession into global equities during 2019,” Jefferies analysts wrote in a note to clients, adding that equities are now inexpensive relative to government bonds. With slowing growth in the U.S. top of mind for many investors this year , futures pointed to a weak opening for U.S. markets too, with the S&P 500 and the Dow Jones Industrial Average set to open down 2%. The WSJ Dollar Index, which tracks the dollar against a basket of 16 currencies, was broadly flat. The 10-year U.S. Treasury yield ticked down to 2.670%, from 2.684% at the close of 2018. Yields move inversely to prices. In Asia, […]