I would never hire anybody who worked at investment banking giant Goldman Sachs, UNLESS they worked in the research department, which I do respect. Here are some of their latest forecasts:
1. GDP growth in the U.S. remains essentially unchanged at 2.4% last year, 2.5% this year, and 2.4% next year.
2. GDP growth in Europe increases from 0.9% last year, 1.6% this year, and 1.8% next year.
3. GDP growth in China continues to slow from 7.4% last year, 6.8% this year, and 6.4% next year.
4. U.S. stocks should increase 6.2% over the next twelve months.
5. European stocks should increase 18.8% over the next twelve months.
6. Japanese stocks should increase 20.4% over the next twelve months.
7. Interest rates on the benchmark 10-year Treasury bond should increase a whopping 73 basis points or about three-quarters of one percent over the next twelve months.
8. The dollar will appreciate 15% against the euro and 3.8% against the pound but depreciate 7.6% against the yen.
9. Oil will remain essentially unchanged,while natural gas will cost 23.6% more.
10. Gold and cooper continue to lose value, with a loss of 8.4% for gold and 5.8% for cooper.
Notable in its absence, there is no discussion of any potential recession or bear market!
1. GDP growth in the U.S. remains essentially unchanged at 2.4% last year, 2.5% this year, and 2.4% next year.
2. GDP growth in Europe increases from 0.9% last year, 1.6% this year, and 1.8% next year.
3. GDP growth in China continues to slow from 7.4% last year, 6.8% this year, and 6.4% next year.
4. U.S. stocks should increase 6.2% over the next twelve months.
5. European stocks should increase 18.8% over the next twelve months.
6. Japanese stocks should increase 20.4% over the next twelve months.
7. Interest rates on the benchmark 10-year Treasury bond should increase a whopping 73 basis points or about three-quarters of one percent over the next twelve months.
8. The dollar will appreciate 15% against the euro and 3.8% against the pound but depreciate 7.6% against the yen.
9. Oil will remain essentially unchanged,while natural gas will cost 23.6% more.
10. Gold and cooper continue to lose value, with a loss of 8.4% for gold and 5.8% for cooper.
Notable in its absence, there is no discussion of any potential recession or bear market!
