Financial markets haven’t priced in an imminent recession, as risky asset valuations are still well above recessionary levels, said strategists at Goldman...
A tightening of financial conditions is keeping recession risk high, but financial markets haven’t priced in an imminent recession, as risky asset valuations are still well above recessionary levels, said strategists at Goldman Sachs.
Hopes that the Federal Reserve may pull back from its aggressive interest-rate-hike policy have lifted U.S. stocks in the past two months as inflation finally shows signs of cooling. The S&P 500 SPX has gained 6.1% in November, while the Dow Jones Industrial Average DJIA has booked a monthly rally of 9.3% and the Nasdaq Composite COMP has risen 2.3%, according to Dow Jones Market Data.
Also read: Stock market could see ‘fireworks’ through the end of the year as headwinds have ‘flipped,’ Fundstrat’s Tom Lee says
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