Agree to Disagree

“Stocks and bonds seem to disagree” on the prospects for economic growth, Jeffrey Kleintop, Charles Schwab Corp.’s chief global investment strategist, wrote Monday in a Twitter post. Kleintop contrasted the MSCI World Index of shares listed in developed markets with the difference in yield between three-month Treasury bills and 10-year notes. While the MSCI World gained as much as 16% this year through Tuesday, the yield gap turned negative — a historical precursor to recession — in March and again on Monday.