Macro Strategy Views Podcast: Market turmoil, slowdown and the outlook for equities
In our weekly podcast, Macro Strategy Views, we focus on the recent turmoil in financial markets, what it says about the economy and how the future looks. Thomas Harr, Global Head of FI&C Research, chairs today’s podcast and our Senior Equity Strategist, Bjarne Breinholt Thomsen, joins him. The markets do not expect an imminent US recession but clearly a slowdown. We expect the manufacturing/export part of the US economy to slow further but the domestic economy to hold up well. Equities are key and we may need to see a stabilisation in growth expectations before equities head forcefully higher with spill-over to credit markets and government bond yields.