What's Top of Mind in Macro Research: US recession fears likely overblown, market volatility, Europe/China economic weakness 7 August 2024 | 4:39PM EDT This week: n US: weaker data, but recession fears likely overblown n Markets: bad news is bad news n Europe and China: a weaker economic picture, too Transcript US: weaker data, but recession fears likely overblown We raised our 12m US recession odds by 10pp to 25% and now expect a string of consecutive 25bp Fed rate cuts in September, November, and December ...