Market's message is that recession risk has risen dramatically

Chun Wang, portfolio manager at the Leuthold Group, says that the Treasury market and credit market are sending two different messages, with the Treasuries actions signaling that the Federal Reserve must move and that recession risk is up, even as the credit market is suggesting that the environment remains healthy. Wang says that coronavirus is less of a market catalyst than an accelerator, bringing troublesome trends to the fore faster than anticipated, but he says that ithe virus economy could trigger a broad recessio in the next six to 12 months. Also on the show, Adam Thurgood of HighTower Advisors Las Vegas talks about implementing -- and sticking with -- a defensive strategy in your portfolio, Jill Gonzalez of WalletHub.com discusses the surprising number of Americans who anticipate missing a credit-card payment this year, and Brian Yacktman of the YCG Funds -- whose YCG Enhanced was the top-performing large-cap growth fund of 2019 -- talks 'enduring pricing power' in the Market Call.