US recession risk higher than market thinks, says portfolio manager

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STORY: "We think those risks are still relevant here simply because the Fed is starting to see that, you know, continued easing along a path of, you know, 10 rate cuts which were just priced in about a month ago is unlikely to happen," adds Stucky who says the economy remains resilient, which will lead to fewer cuts and therefore "a soft landing scenario is less likely."

He says his firm remains defensive in its client portfolios because of this outlook.