FT Alphaville is always spicy:
Wall Streetforecaststargets are almost never useful, to be clear.
At the same time stating an important insight and ridiculing financial market practitioners for being too beholden to them. (forecasts = targets, LOL!)
This market mess has helped fuel broader fears of recession. GS isn’t willing to stick their neck out (maybe figuratively, though who knows) to predict a downturn, insisting it’s not their “base case”. Instead, they blame the stock market correction on “uncertainty” about growth and an unwinding of hedge fund positions.
...but the graph of formerly Magnificent 7s is, um, not magnificent:
Recession time?!
Maybe, who knows:
This market mess has helped fuel broader fears of recession. GS isn’t willing to stick their neck out (maybe figuratively, though who knows) to predict a downturn, insisting it’s not their “base case”.
Alphaville is usually open, so I won't bother archiving this one. (there was nothing more interesting in the piece anyway)