after Wall Street's sharp losses overnight, and New Zealand's central bank continued to hike its benchmark interest rate.‘Insure against the worst’: Goldman picks stocks for a soft — and hard — economic landing, signaling the possibility of higher interest rates for longer than expected.
The yield on the 6-month and 1-year Treasury bonds closed at 5% on Friday, thanks to several economic data releases last week that pointed toward a strong U.S. economy. A rise in bond yields leads to increased borrowing costs for companies, which adds downward pressure on stocks. Despite this challenging environment, Goldman Sachs remains optimistic and expects a "soft-landing" for the U.S. economy. In this scenario, inflation is controlled with a mild recession at most.
To capture the upside in a soft-landing scenario, the Wall Street bank said that investors should own stocks that can benefit from a decelerating inflation environment.
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