Global markets optimistic despite economic concerns

Global markets are optimistic about a soft landing for the world economy despite concerns. The U.S. economy grew 5.2% in Q3, but unemployment is rising. Inflation slowing quicker than expected has led to bets on central bank rate cuts. Traders are doubling down on 2024 rate cut bets. Corporate defaults have nearly doubled in 2023. Oil prices have dropped around 14% in the past two months. If Brent crude reaches $150, a "mild and fleeting" global recession could result.