Pimco’s Fel's says worst is to come with recession forecast
Mon, Mar 09, 2020 - 11:00 AM
Global markets are girding for another roller coaster week, as the virus continues to spread and an oil-price war adds to market uncertainty. US stocks fell back into correction territory and Treasury rates hit an all-time low in the past week. Pimco previously said the chances of a recession in the next 24 months were 35 per cent.
[LOS ANGELES] The US and Europe face the "distinct possibility" of a technical recession in the first half as the coronavirus outbreak dampens demand and supply and drives investors to safe havens, according to Pimco's Joachim Fels.
"The worst for the economy is still to come over the...