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Something big shifted in the market following Thursday’s U.S. consumer-price index report, according to George Saravelos, global head of currency research at Deutsche Bank.
Based on moves in U.S. stocks SPX and the U.S. dollar EURUSD which finally achieved parity with the euro on Thursday, Saravelos said in a note to clients on Thursday that markets are now pricing in 100% odds that the U.S. economy will slide into a recession before the end of the year.
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