Macro Hive Conversations With Bilal Hafeez cover image

Gavyn Davies on Inflation, Asset Allocation and ChatGPT

Macro Hive Conversations With Bilal Hafeez

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The Buy Modal Outcome for the Fed

S&P 500 doesn't seem to be saying that we're in a recession. And yet we have all these easing as priced. Is the market trying to price a buy modal outcome where the Fed's not on hold, or we have a sharp recession because of a credit crunch? So it's almost like two outcomes. The market's not quite sure current pricing somewhere in between.

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