A mild recession in the U.S. in 2023 will force the Federal Reserve to pivot in the second quarter of next year, according to market analysts at Société Générale. The French bank said Thursday that it was making some significant changes to its multi-asset portfolio ahead of the new year and is heavily weighted toward sovereign debt compared to equities and commodities. The bank also said that it is reducing its cash position to zero. "Overall, expected return should be more positive than in 2022, with particular focus on Treasuries, EM and Credit. U.S. technology remains at risk and Chinese assets uni ... (full story)