Kaltbaum Capital Management President Gary Kaltbaum told FOX Business he is 100 percent sure the market is decelerating this quarter due to our trade war with China.

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“I speak to businesses, they’re starting to feel it and look the tariffs are working against the economy right now, and if it continues, nothing good is going to come of it,” he said on “Making Money” Wednesday.

Kaltbaum attributes this way of thinking to the drop in the 10-year treasury yield.

“It’s telling me we’re getting a slowdown. I think we’re probably in the 1 GDP this quarter and I do expect the Fed to make a move in the next month or two lowering rates to catch up. Maybe that helps but right now we’re on the defensive.”