Surveillance: Economic Malaise with Harvey
Bloomberg Surveillance
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The Resilience of the Markets in Face of the Rate Hikes
The BISIDE team has penciled in one more rate hike for July, but what we spend much more time thinking about is the response to the next recession. We have historically, for my entire career, believed that as you face a recession, central banks respond. But when we start modeling recessions without material rate cuts or with less rate cuts, then we actually see a very different asset class return. It is not a standard recession playbook. This is why our metrics have to broaden.
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