The market is still not pricing in recession risk, and stocks have yet to bottom, UBS managing director says

Dec 22 2022 by Business Insider

 
A trader works on the floor of the New York Stock Exchange.

REUTERS/Brendan McDermid

Markets are underestimating the risk of an economic hard landing, UBS' Michael Zinn warned. Zinn pointed to recent corporate earnings, many of which have fallen below analysts' estimates. The Fed will remain hawkish until it sees more positive inflation and jobs data, he said, which spells trouble for stocks.  

The market isn't pricing in the risk of a recession, and stocks still haven't hit a bottom,...

Continue Reading The market is still not pricing in recession risk, and stocks have yet to bottom, UBS managing director says