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Danish investment firm Saxo Bank- "Global recession more likely and coming soon"

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 ESET    1,226

While markets are forecasting only a 10 percent chance of a global recession, Danish investment firm Saxo Bank puts the odds at over 60 percent.

"Our main global macro outlook still maintains that recession is more likely than not in the near future (12 to 18 months) based on the global credit impulse having peaked simultaneously with global inflation," chief economist at Saxo Bank Steen Jakobsen told CNBC.

Recently, Jakobsen wrote in a note that while his company doesn’t predict a recession, its economic model does see a significant slowdown as "the large credit impulse from China and Europe in the early part of 2016 has not reversed to negative."

"While the market at large sees less than a 10 percent chance of recession, we at Saxo – together with our friends at South Africa's Nedbank – see more than a 60 percent chance," he said in the note.


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