EFTA Document EFTA01459737

Perspective from Larry V. Adam, CIO and Chief Investment Strategist, Wealth Management-Americas 5 5 0 I I With the ongoing volatility in risky assets and global bond yields flashing warning signs by falling sharply in recent weeks, the chorus of recession talk has grown even louder. While the U.S. Citigroup Economic Surprise Index has fallen to an eight month low and the U.S. ISM Manufacturing Index has been in contraction territory for the past four consecutive months, it is under