Estimated U.S. Recession Probability

Estimated U.S. Recession Probability Despite recent improvements, the risk of a U.S. recession within the next 12 months remains above the historical average, driven by ongoing tariff-related uncertainties and their economic repercussions. Image: Goldman Sachs Global Investment Research

Market-Implied U.S. Recession Probability

Market-Implied U.S. Recession Probability The market-implied probability suggests a modestly elevated risk of a U.S. recession within the next year, slightly above its long-term average. Image: Goldman Sachs Global Investment Research

Probability of S&P 500 Drawdown / Rally

Probability of S&P 500 Drawdown / Rally The S&P 500 has reached a point where the probabilities of a sharp rally and a meaningful drawdown are closely aligned, signaling a market at equilibrium. Image: Goldman Sachs Global Investment Research

Probability of U.S. Recession As Priced Across Asset Classes

Probability of U.S. Recession As Priced Across Asset Classes The S&P 500 is pricing in about a 25% chance of a recession, which is lower than signals from copper prices or the yield curve, but higher than the recession probabilities implied by global equities or high-yield credit markets. Analysts often use the current percentage change…

Probability of U.S. Recession

Probability of U.S. Recession The rise in the one-year recession probability based on the S&P 500 and BBB spread is seen as a negative sign, highlighting economic risks that could affect market sentiment and change investment strategies. Image: J.P. Morgan

Global Recession Probability Model vs. MSCI ACWI

Global Recession Probability Model vs. MSCI ACWI NDR’s Global Recession Probability Model is at its lowest level in nearly four years, signaling a positive outlook for global equities. Image: Ned Davis Research