SocGen's Edwards: Corbyn will be seen as moderate in next downturn

US rates heading below 0%

Société Générale's bearish strategist Albert Edwards has warned global markets and economies are not prepared for the populist backlash that will be seen following the next downturn.

Speaking at Société Générale's annual global strategist conference, which has been described as "Woodstock for bears", Edwards predicted the next downturn would come later this year, pointing out this is earlier than the general economist consensus. The permabear said the next recession would be as deep as the global economic downturn following the Global Financial Crisis due to the pile-up of US corporate debt in the retail space, an area of the market banks are avoiding, he added. In this market crash, SocGen's analyst said he expected US interest rates to fall below 0% in order to ...