Today on the podcast we are joined by Director of Global Macro Jurrien Timmer to discuss what it will take for markets to enter a recessionary environment and what he thinks about recent earnings.  And with earnings season well underway, many companies are reporting better than expected numbers. But despite these results, Jurrien says he doesn’t expect the Fed will give markets an easy out, with a recession expected to occur 3 to 9 months after the yield curve’s most inverted point.  Jurrien explains to host Pamela Ritchie that declines in earnings have largely been the result of shrinking profit margins following inflation. He says that top 10 S&P mega-caps continue to move the market, but that 87% of stocks in the S&P 500 remain above the 50-day moving average, a big difference from the last several months.  

Recorded on July 24, 2023.

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