Stagflation vs. recession

Defining Two Different Negative Market Outcomes Earlier this month, we saw an increase in volatility as markets reassessed the risk of a recession, giving investors unpleasant hindsight into 2022. However, unlike 2022, it appears that the market believes that the greater risk today lies in a “typical garden-variety recession”. and not in the much rarer but more pernicious “stagflation.” While we (…)

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