Crypto News: The back to back collapse of crypto friendly lenders Silicon Valley Bank (SVB) and Signature bank re-ignited the recession risks. However, the rescue deal of Credit Suisse made sure that the downturn might be near. However, BlackRock executive assured that the Recession might be postponed but not canceled yet.
As per reports, BlackRock Inc’s deputy chief investment officer stated that slowing growth and persistent inflationary pressures indicate that the market will see a major divide between winners and losers ahead.
Helen Jewell, Global Director of Research at BlackRock mentioned that you can’t have inflation at these levels without registering margin pressure on companies. She expects a wide dispersion among winners and losers.
However, inflation showed some signs of cooling off after touching historic highs. The global profit margin estimates are on a decline. Analysts expect that the S&P 500 earnings to take a hit in the first quarter in comparison to the previous three months. Read More Crypto News Here…
The report added that full year expectations have been tempered however, the strategists issued a warning that there is still room of further decline.
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Source: https://coingape.com/crypto-news-blackrock-exec-assures-that-recession-is-coming-in/