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Goldman Sachs economist says US debt default or even a near-nonpayment could plunge economy into recession, but remains optimistic Congress will eventually reach a decision; if US escapes risks of defaulting on its debt, it's likely to avoid a recession

Moody's: If US slips into recession in 2023, that could take biggest toll on West, which is exposed to housing and tech slumps; Midwest would be best positioned to ride out downturn, while Northeast and South would fight for second and third on pain meter

Moody's: Walmart raising nationwide minimum wage to US$14/hour is a surprise given risks of a recession; move suggests retailer doesn't think economy will suffer a recession anytime soon, or if it does, it will be a short-lived and modest downturn

Big bank CEOs weigh in on recession risk: Citi CEO sees environment is a tad better than expected going into 2023, but sees mild US recession in H2; Morgan Stanley CEO has bullish outlook, says there's negativity out there, but 'that's not our house view'

Bank of America: 2023 should be another strong year for luxury sector demand, driven by China's reopening; brands with greater momentum can better withstand volatility, and analysts are particularly optimistic about LVMH, Richemont and Herm├Ęs

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