Is This the Setup for a Recession? Markets Stay Calm Amid Rising Risks

Mike Armstrong and Marc Fandetti examine whether markets are underestimating growing recession risks.With oil prices climbing amid escalating tensions involving Iran, historically high equity valuations, stubborn inflation, and renewed concerns in private credit, Mike and Marc ask a critical question: Are investors too complacent?In this episode, they break down:• How rising energy prices could slow growth and reignite inflation• Why elevated stock valuations leave little room for error• The potential risks building inside private credit markets• Nvidia’s trillion-dollar AI forecast and what it means for tech leadership• Why markets remain near record highs despite mounting macro pressuresPlus, a look at tax refund trends and what they signal about the broader economy.Is this a temporary scare — or the early stages of something bigger?