From Goldman’s Noah Weisberger, some commentary on the recent market strength:
The S&P 500 has rallied sharply this week… …with improving growth views, oil price relief, easy financial conditions, and risk sentiment all supporting the market The recent growth rebound has had a decidedly domestic flavour… …with consumer cyclicals driving performance. Rate relief has been important too. Although the evidence of a stabilizing US economy is not crystal clear…. …the market has already priced in a good deal of weakness. So even wisps of improvement may help market trends extend higher.
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