potentially being in a bubble as its climb to new heights continues relatively unabated. But Goldman Sachs offered up a comforting take to these worrywarts on Monday.
“While there are pockets of excessive valuations in equities, and parts of the market are justifiably de-rating as interest rates adjust, in our assessment only a few of these common characteristics are currently present or being partially met,” opines Goldman’s chief global equity strategist. And head of macro research in Europe Peter Oppenheimer wrote in a research note, “Importantly, the absence of significant leverage (outside of the government sector) and the early stage of the cycle suggest that the risks of an imminent bubble with systemic risks to the financial system and economies is relatively low.”
Oppenheimer’s conclusion reflects several factors.
