Thirteen of the world’s 16 biggest money managers expect a recession in the US, but Goldman, Apollo and Credit Suisse say they are wrong.
Advertisement
“They may move towards a more European model, where employees are kept on the payroll through a recession, allowing for a swifter and smoother recovery later,” chief market strategist Daniel Morris said.There is no consensus about US interest rates, which are one of the biggest influences of global share prices.
Some of the analysts expressed concern investors anticipate a US economic recovery too early, based on the expectation of rate cuts this year. “Markets want to believe that central banks will blink and change direction, negotiating the economy towards a soft landing,” global chief investment officer Andrew McCaffery wrote.“But in our view, a hard landing remains the most likely outcome in 2023. The previous norm of central bank ‘whatever it takes’ intervention during the financial crisis and the pandemic is going or has gone.”
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Goldman to sack 3200 staff after cost reviewSlowdowns in some business lines, an expensive consumer-banking foray, and an uncertain outlook for markets and the economy are prompting the bank to slash costs.
Read more »
Carbon credit review finds scheme is working effectivelyAn independent review into the government's carbon credit scheme has rejected suggestions it is fundamentally flawed, but has made a series of recommendations to improve its transparency and integrity.
Read more »
Carbon credit scheme fraud claims ‘overstated’: Chubb reviewClaims that Australia’s carbon credit scheme has been defrauded have been exaggerated and the system is “essentially sound”, a report to the federal government says.
Read more »
ASIC fears high-risk credit pushCash-strapped people will be pushed towards riskier payday loans, buy now, pay later and debt consolidation products, the head of the Australian Securities and Investments Commission warns.
Read more »
The perils of predicting the futureA wrong call by funds management giant Fidelity shows the challenges of market predictions.
Read more »
‘A new low’: Real estate agent taken to task over ‘sad’ detail of $300 a week rentalA social media influencer has slammed a Heathcote real estate agent over a $300 rental listing which included a combined kitchen and bathroom space. 7NEWS
Read more »