wolfstreet.com / by Wolf Richter •
Late Friday, when the strategy folks at
Goldman Sachs downgraded global stocks to “neutral” for the next three
months, they gave a reason that would have been peculiar in normal times: “a sell-off in bonds could lead to a temporary sell-off in equities.”
OK, let’s forgive Goldman for flip-flopping.
At the peak of the bubble, trigger fingers are nervous, and
flip-flopping is the norm. Last week, another Goldman strategist, in a
very bullish mood at the time, had raised his year-end target for the
S&P 500 to 2,050. But that’s like so last week.
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