This post was originally published on TKer.com.
Jim Reid, macro strategist at the bank, wrote that “historically the S&P 500 normally always only bottoms in a recession and usually not until mid-way through.”
Reid and his colleagues expect the U.S. economy to enter a recession in 2023. As such, they also believe the S&P 500 is “likely” to see a low that year before resuming any rally.
There are two ways of thinking about this chart.
First, recessions are common in history and…
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