'No recession bet whatsoever': The stock market isn't pricing in any sort of economic downturn, investment firm says

Angela Weiss/AFP

• A trend in the stock market shows investors are betting on continued US growth, one firm says.
• Historically, an increase in defensive valuations has preceded a recession, but that's not happening.
• Equity managers are acting like "there's no recession risk whatsoever," The Leuthold Group said.

Investors are betting that the US economy will continue to grow and they're behaving as if there's "no recession risk whatsoever," market research...