From Bloomberg via Yahoo Finance May 23:
Commodity cheerleader Goldman Sachs Group Inc. said its forecasts for major rises in raw materials this year hadn’t panned out well so far, but coupled that assessment with another call for a major rally.
“Bulls, like ourselves, find comfort in the fact that end-use demand across the commodity complex has not shown recessionary signs and investment in supply remains elusive,” analysts including Jeffrey Currie said in a note. “But this misses the point that we were wrong on price expectations.”
Commodities have sunk this year, with a Bloomberg gauge tumbling by almost 10% to hit the lowest since 2021 this week. The declines in energy and metals have been driven largely by China’s weaker-than-expected emergence from Covid Zero and concerns that the US is now headed for recession after an aggressive round of rate hikes from the Federal Reserve to contain inflation....
....MUCH MORE
Dec. 2, 2010
More on Goldman's Top Trades 2011: "We Like Finance Stocks for First Time Since ‘08" (GS; BKX; XLF)
Hot on the heels of this morning's "Goldman Sachs: Here Are our First ‘Top Trades’ of 2011 (GS)" MarketBeat comes right back with a follow-up. And: a more in-depth look at GS2011.
But first, a note on how to read Goldy's pronouncements:Mother: .....And remember, the Lord loves a working man.
Navin: ........Lord loves a working man.
Father: ......And son, don't never, ever trust whitey.
—The Jerk (1979)
