Global stock markets may have experienced increased volatility over the past year, but that does not mean investors should fear an impending global recession, Adam Schor, Janus Capital Group director of global equity strategies, said Tuesday.
"There are risk factors out there. We think the volatility of Brexit will be one of them," said Schor on CNBC's "Power Lunch." "But when when we talk to our companies, and we look at the data points we are getting from them, we're seeing generally healthy conditions, generally healthy demands, not off the charts, but generally okay. So we're not having as a base case a recession."
Bank of England Governor Mark Carney said on Tuesday a vote by Britain to leave the European Union, widely known as 'Brexit,' could hit the country's $2.9 trillion economy and prompt some banks to move away from London's global financial powerhouse.
Carney said the Bank of England would not assess the long-term implications of the referendum for the economy. But a possible vote for Brexit on June 23 would deliver a short-term hit to growth and sterling, and foreign investment would probably also diminish.