Macro Strategy Views Podcast: Slowdown set to worsen, yields set to fall further
In our podcast, Macro Strategy Views, we discuss the depth of the global slowdown, recession risks and implications for yields. Global Head of FI&C Research Thomas Harr chairs today’s podcast, while our China economist Allan von Mehren and our head of FI Research Arne Lohmann Rasmussen join him. We expect the global economic cycle to worsen in coming months but a recession is still not our base case. We expect the worsening global economy to put further downward pressure on US and core euro yields. A ‘buy the rumour, sell the fact’ pattern around the ECB meeting is the biggest risk for our call of modestly lower euro yields.