cancel2 2022
Canceled
.
Looks increasingly like a full blown recession is now unavoidable.
Peter Oppenheimer, chief global equity strategist at Goldman Sachs, discusses his takeaways from the US August employment report, outlook for equity markets, and next week’s European Central Bank rates decision on “Bloomberg Markets.”Source: Bloomberg
The economic soft landing that stock bulls are hoping for is unlikely given persistently higher inflation and risks of a global economic slowdown, according to Goldman Sachs Group Inc.’s Peter Oppenheimer.
The chief global equity strategist told Bloomberg TV on Friday that even though major equity markets have tumbled year-to-date, they need to fall more in order to price in inflation remaining higher for longer and the global downside risks to growth in the US, China, and Europe. While some market patterns, like the outperformance of defensive stocks over cyclicals, suggest that the market is expecting an economic slowdown, Oppenheimer is not convinced the broad equity market is in touch with reality.
“At this stage it still looks to be pricing something of a soft landing,” he told Bloomberg’s Alix Steel and Tom MacKenzie. “I think the market will get to pricing more recession risk before we get a genuine turnaround.”
https://www.bloomberg.com/news/arti...ead-to-save-stocks-goldman-s-oppenheimer-says
Looks increasingly like a full blown recession is now unavoidable.
Peter Oppenheimer, chief global equity strategist at Goldman Sachs, discusses his takeaways from the US August employment report, outlook for equity markets, and next week’s European Central Bank rates decision on “Bloomberg Markets.”Source: Bloomberg
The economic soft landing that stock bulls are hoping for is unlikely given persistently higher inflation and risks of a global economic slowdown, according to Goldman Sachs Group Inc.’s Peter Oppenheimer.
The chief global equity strategist told Bloomberg TV on Friday that even though major equity markets have tumbled year-to-date, they need to fall more in order to price in inflation remaining higher for longer and the global downside risks to growth in the US, China, and Europe. While some market patterns, like the outperformance of defensive stocks over cyclicals, suggest that the market is expecting an economic slowdown, Oppenheimer is not convinced the broad equity market is in touch with reality.
“At this stage it still looks to be pricing something of a soft landing,” he told Bloomberg’s Alix Steel and Tom MacKenzie. “I think the market will get to pricing more recession risk before we get a genuine turnaround.”
https://www.bloomberg.com/news/arti...ead-to-save-stocks-goldman-s-oppenheimer-says