An interview with Goldman Sachs senior investment strategist Abby Joseph Cohen on Bloomberg overnight
This an ICYMI:
- "I'm more concerned about fixed income than equities", adds that valuation of the S&P 500 index is "okay, not great"
- "There's already been a notable rise in interest rates at the intermediate and long end. I think it will be increasingly difficult for fixed-income investors to do well." … Expects Ten-year Treasury yields will climb to 3.6 percent by the end of 2019
More:
- the risk of a trade war could alter the outlook
- With U.S. President Donald Trump threatening to impose tariffs on any country that treats the U.S. "unfairly" on trade, that could reduce demand for U.S. stocks, according to Cohen."Over the last year or two or three, the significant demand in U.S. equities has come from the countries where the president is now talking about slapping significant tariffs," she said. "That can't make those investors particularly friendly towards the United States"
