Global recession is possible if rates stay high: Strategist

Bond yields have pulled back from their 16-year high after markets digested ADP's private sector jobs data, but some feel there is more at play. Many investors are still worried about a potential recession in the U.S. Infrastructure Capital Advisors CEO Jay Hatfield tells Yahoo Finance Live that if rates stay this high "we'll have a global recession and the U.S. may even get dragged into it." However, Hatfield thinks a soft landing is still likely given that the housing market has remained resilient and a slew of infrastructure spending from the Biden administration will help bolster the economy. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.