[1/3] The Charging Bull, or Wall Street Bull, is pictured in the Manhattan borough of New York City, New York, U.S., January 16, 2019.
“The no landing scenario has quickly evaporated,” said Emily Roland, co-chief investment strategist at John Hancock Asset Management.
A financial accident has happened, and we are going from no landing to a hard landing driven by tighter credit conditions,” he wrote in a Wednesday note.
Some investors believe regulators' quick backstop of Silicon Valley Bank, which included guaranteeing the funds of depositors, will prevent a crisis and allow for a soft landing.
“The odds of a soft landing have gone down and the likelihood of a hard landing has gone up,” he said.