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Anatomy of a Recession: 2Q23 Update

April 18, 2023

 

Jeff Schulze and Josh Jamner discuss how lagged effects of Fed tightening, first apparent in the March banking crisis, have raised their probability of recession to 75% as the layoff cycle begins to broaden to Main Street. They also analyze how a slowdown will likely pressure corporate earnings and stock multiples, causing market volatility to remain elevated.

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  • Past performance is no guarantee of future results. Copyright © 2023 ClearBridge Investments. All opinions and data included in this commentary are as of the publication date and are subject to change. The opinions and views expressed herein are of the author and may differ from other portfolio managers or the firm as a whole, and are not intended to be a forecast of future events, a guarantee of future results or investment advice. This information should not be used as the sole basis to make any investment decision. The statistics have been obtained from sources believed to be reliable, but the accuracy and completeness of this information cannot be guaranteed. Neither ClearBridge Investments, LLC  nor its information providers are responsible for any damages or losses arising from any use of this information.

  • Performance source: Internal. Benchmark source: Standard & Poor's.

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