Goldman Sachs say that while US economic growth has slowed, the country is not close to recession.
- And based on that no recession view GS say it is "too early to expect this equity bull market to end".
More:
- avoiding a recession should support risky assets
- upside is somewhat limited
- prospects for continued relatively modest profits growth
- trade uncertainty appears to have been the key driver of ISM weakness … could end up pushing the US towards a truce with China
- GS add political developments in the US (cough … moves towards impeachment) also support the US wanting a trade truce with China.
