Masanari Takada, a strategist at Nomura, warned in a report this week that an"ominous pattern" is developing in market sentiment that could point to deep losses ahead.
Similar to 2007, US market confidence cratered late last year due to recession fears. The S&P 500 suffered its worst December since the Great Depression. US markets raced back to life in early 2019, driving a recovery in sentiment like the one that occurred in mid-2008. "The ongoing US/China trade war, and its recent escalation is threatening to send the global economy into recession," analysts at Societe Generale wrote in a report on Wednesday."Investors should buckle up."
"While incoming data does not signal a recession, we believe investors will remain cautious as the pace of deterioration remains steep," Jonathan Golub, chief US equity strategist at Credit Suisse, wrote in a note on Wednesday.
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