Fears of an impending global recession have been overblown, both J.P. Morgan and HSBC Asset Management have projected in half-year outlook reports.
Investors and commentators alike have grown wary of recession as global trade conflicts have escalated in recent months. This was further fueled by the inversion of the U.S. yield curve in March, which has now continued for over three months, meaning long-term debt became significantly cheaper than short-term debt.
"Moving forward, the boost from last year's tax cuts is set to fade and the lagged impact of increases in the Fed funds rates in 2017 and 2018 also implies that growth will moderate," Little told CNBC. The note pointed to Chinese import data to suggest that domestic demand is beginning to recover from its 2018 slump and may support growth elsewhere.
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