Goldman is becoming increasingly worried that a correction - and a sizable one at that - appears imminent.
Two weeks after the investment bank announced that according to its Bear Market Risk Indicator the odds of a crash have risen to 67%...
Two weeks ago, Goldman's clients were so worried about an imminent crash, the investment bank's chief equity strategist, David Kostin enumerated no less than 7 reasons why, as Goldman itself admitted, "the question every client asks: Is an equity correction imminent?” As a reminder, the reasons - summarized - were the following:
Authored by Doug Kass via RealInvestmentAdvice.com,
* In a paperless and cloudy world, are investors and citizens as safe as the markets assume we are? –Kass Diary
Another provocative missile launched by North Korea and another apparent terrorist attack in London, England, are, once again, overnight and early-morning features of our reality as investors and as citizens.
A chaotic week in some markets...
But only FX sees through the bullshit...
It was a week of superlatives...
Trump's best week of the year...
S&P futures retreated along with European and Asian shares with tech, and Apple supplier shares leading the drop while safe havens such as gold and the yen rose, as the war of words between U.S. President Donald Trump and Kim Jong Un escalated and North Korea threatened to launch a hydrogen bomb, leading to a prompt return of geopolitical concerns. Trade focus now turns to a planned speech by Theresa May on Brexit (full preview here).