Five Things You Need to Know to Start Your Day

Recession fears, China reopening, and a no-confidence vote in the UK Prime Minister.

Most economists say a US recession is unlikely in the immediate future, given the strength of the jobs market and the more than $2 trillion in excess cash on household balance sheets. They’re more worried about next year, though, as the Federal Reserve keeps raising interest rates. Those rate hikes and the Fed’s shrinking balance sheet make technology stocks and cryptocurrencies vulnerable in the coming months, according to participants in the latest MLIV Pulse survey. Meanwhile, the European Central Bank meets this week, and in all likelihood, it’ll set the stage for a rate increase next month.