A couple of weekend snippets.
Morgan Stanley:
And warning that “we live in the most chaotic, hard-to-predict macroeconomic times in decades. The ingredients for a global recession are on the table.”
forecasting “substantial further selloff in US equities, even in the base case of no recession.”
Goldman Sachs:
“the reality is simply that the Fed is targeting tighter FCI and that’s undoubtedly a very tough environment for risk assets”
(FCI is Financial Conditions Index)
“Taken together, the FCI tightening trend is firmly in place and the “Fed call” on stocks is here to stay”
S&P500 update: