Putting 99.9% odds on recession is 'a bit extreme': Ed Devlin

Betting there’s a 99.9 per cent chance of a U.S. Federal Reserve-induced recession is “extreme in terms of a probability,” said Ed Devlin, former head of Canadian portfolio management at PIMCO, one day after a top Bay Streeter made waves with his prognostication.

“I mean, put it this way: that’s saying it's one-in-1000 (chance there won’t be a recession,)” Devlin added in an interview Thursday.

“I'd be more than happy to bet anybody or give anybody $100 it when there's a recession, if you'll give me $100,000 when there’s not. You know, it seems a little bit extreme in terms of a probability.”