Former Goldman Sachs Asset Management Chairman Jim O'Neill told CNBC on Thursday that there are signs that a 10-year bull market in stocks is set to end.
Weekly jobless claims in the United States have fallen to their lowest level since 1969 and the former Goldman executive noted that it is entirely possible that the U.S. Federal Reserve could find itself quickly reversing a dovish outlook that has been in place since early 2019. "The idea that maybe the markets were right all along and the Fed will be tightening by the end of the year is not a crazy idea in my view," he said, before adding,"We might be entering the end of the 10-year almost clear bull market in equities. The kind of volatility we have seen in the last six months is very different from the past 10 years."
Earlier this week, the International Monetary Fund's managing director, Christine Lagarde, said the global economy is in"a delicate moment" and noted the clear downside risk of China's trade tensions with the U.S.
Ah Jim O'Neill presided over the WORST investment record of any company. Did anything he supervise make any money?
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