‘The Ice Age will soon be upon us’: One market bear explains why the next recession will do the unthinkable to US markets
- Albert Edwards, the global strategist at Societe Generale, says he is convinced that the Ice Age theory he has promoted since the 1990s will soon hit the US.
- His theory stipulates that a wave of deflation would pummel long-term bond yields towards zero and send stocks tumbling in tandem.
- In a recent note to clients, Edwards explained why he doesn’t foresee a jump in inflation any time soon, and the impact that the next recession would have on stocks and bonds.
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It takes a certain brand of persistence to maintain the same prediction