Two weeks after Deutsche Bank became the first "credible" Wall Street bank to officially make a US recession in late 2023 its base case (here, of course, we exclude such uber bears as BofA's Michael Hartnett or SocGen's Albert Edwards, who have pitched recessionary scenarios explicitly different from the banks' bullish "base cases"), the bank is out with a new, even more bearish view in its latest "House View" note, in which the bank explains that not only is a recession assured but that inflation expectations "will likely move significantly higher, ultimately leading to an even more aggressive tightening and a ... (full story)