'If not an outright recession, we could still see a three-quarter period of negligible economic gains, and a half point or so climb in the jobless rate,' said CIBC
has doused recession fears and raised hopes that we can escape this inflation battle with a so-called soft landing.for the global economy, speculating that risks had receded.
“It’s worth noting that a soft landing is still only a mixed blessing for investors, workers and those seeking re-election in North America,” Shenfeld said in CIBC Capital Markets’ weekly note.strong job numbers CanadaCentral bank rate increases aim to push the job vacancy rate down and unemployment rate up and a final hike in September has not been ruled out.
Equities that are sensitive to interest rates and the bond market will have a tougher time because without a recession interest rates are likely to stay higher for longer. “If economic slack is modest, we will likely only see overnight rates in the mid-2 per cent territory by 2025, and that could leave 10-year rates struggling to sustain levels much below 3 per cent,” he said.
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