Anne Walsh, chief investment officer at Guggenheim Partners, expects the US to enter a recession by mid-year and the S&P 500 to tumble more than 25 per cent.
While the pending recession will be “relatively mild”, offset by a strong consumer balance sheet, Guggenheim Partners said investors should prepare for the S“We believe that no one should be betting on the Federal Reserve pivoting from that in a quarter or two just because the United States is close to a recession,” Anne Walsh, chief investment officer at Guggenheim Partners, said in a note.Guggenheim sees rough waters for US equities.
In addition, “a looming turn in the business cycle means the rates market should be a tailwind for fixed-income investors as 10-year Treasury yields head back down towards 3 per cent”.
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