November 8, 2022 | Emerging Markets Debt

Gloom and Doom from the IMF

One of the big takeaways from October International Monetary Fund (IMF) meetings was that avoiding a global recession within the first half of 2023 will be challenging.

So we just got back from the IMF meetings in Washington, DC. One of the big takeaways from the IMF meetings was this very doom-and-gloom type of scenario—this idea that avoiding a global recession within the first half of next year seems less and less likely. The only silver lining seems to be that people expect the Fed to stop hiking rates, inflation to roll over, in the first half of the year. And that could potentially create a catalyst for strong positive returns. Since fixed-income yields have risen so much since the Fed started hiking rates, it provides a much more attractive entry point for the asset class.

Filmed September 2022

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Topics: Recession Interest Rates Inflation

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