Equity Markets Are 'Far Too Complacent,' Says M&G's Fedeli

The video discusses the current economic climate, highlighting high inflationary pressures and the potential for negative surprises in bond markets. It explores the risks to the global economy, including the possibility of stagflation, and analyzes the equity markets, noting expensive valuations and the potential for equities to underperform in a recession. The US market is seen as safer but is currently at high valuations, complicating investment decisions.

In what way do safer markets, like the US, perform during a recession according to the text?

What challenges do equity investors face in the current market conditions?