Goldman Warns Central Banks May Unleash "Financial Turbulence, Rate Shock" As It Cuts Yield Forecasts
Every year for the past four, Goldman started off the year with an undauntedly optimism and a bullish forecast, one which usually involved a material increase to GDP expectations and, just as importantly, rising 10Y bond yields. And every year for the past four, it took Goldman a few months before it was forced to trim both its GDP forecast and cut its expectations where the 10Y would end the year.