‘Cries of pain’ from smaller companies are muted by enthusiasm elsewhere in the market, but rising insolvencies point to a looming recession, says SocGen
Smaller companies are struggling under the weight of interest rates, and rising insolvencies are a signal of recession. According to Societe Generale, lending conditions for small companies are the same as during the economic downturn. “The notion that we are at the beginning of a new economic cycle seems preposterous to me,” wrote Albert Edwards. …