Macro Talking Points

We are softies. With recession fears having reignited, at least temporarily, it’s worth flagging that we are still firmly in the soft-landing camp. In fact, in our internal fixed income strategy meeting last week, chief economist Erik Weisman described the central scenario as a “soft soft landing,” or a very moderate growth slowdown. This is positive for global markets as it signals that the macro environment remains in goldilocks mode.