Goldman Sachs on growth risks and a recommendation. views
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- The key question is whether that downgrade now over- or under-reflects our view of the actual growth risks. Our asset benchmarking tools suggest that the market has meaningfully revised its growth views for the three major economic regions (the US, Euro area and China)
- Our estimates generally suggest that the best opportunities to position for these scenarios are in parts of the US and European equity markets, with a somewhat narrower opportunity set in rates and in the currencies of highly-vaccinated economies against JPY
GBP/JPY a candidate? It is, after all, the FX space very own meme stock ....