Recessionary worries also extended beyond equities. The rate-sensitive 2-year Treasury note spiked above a fresh 15-year high of 4.2% on Friday, soon after the 10-year Treasury yield topped 3.7%, the highest since 2011. In currency markets, the U.S. dollar index surged to the highest since May 2002 and in commodities, oil prices plunged below $80 to an eight-month low.
“We’re of the view that 2023 earnings estimates have to continue to decline,” a note outlining a discussion between Baird’s Ross Mayfield and Ryan Grabinski said. “We have our 2023 recession odds at about 50% right now, and in a recession, earnings decline by an average of about 30%.”
發表於 2022-9-26 06:54:52
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