- "The economy is defying gravity" after third-quarter GDP approached 5%, according to JPMorgan portfolio manager Phil Camporeale.
- Camporeale said that the three tell-tale signs of a recession are nowhere to be found.
- If no recession materializes, as Camporeale expects, then investors should buy high-yield bonds.
The recession everyone's been waiting for over the past 18 months isn't coming anytime soon after the release of third-quarter GDP data, according to JPMorgan portfolio manager Phil Camporeale.