Finanshuse: Goldilock tilstand er på vej tilbage

Blackrock

1. Markets have rallied from the October lows despite recession risks.

2. This optimism is seen as complacent as US economists predict a recession in the second half of this year.

3. Recent banking turbulence will tighten credit conditions, resulting in slower growth.

4. The risk of a recession remains high, particularly according to the US rates team model, and US bonds have not yet priced this in.