Gold Finance reported that Tony Pasquariello, a top trader at Goldman Sachs, pointed out that in the past 40 years, there have been five economic recessions that did not follow after interest rate cuts by the Federal Reserve. On average, the S&P 500 index has pumped 17% in the 12 months after the first interest rate cut. However, in the current interest rate cycle, the US GDP is strong at around 3%, and the Dow Jones and S&P indices have reclaimed historical highs. This makes the current stock market, especially the tech-heavy Nasdaq 100, less attractive in terms of risk/return, and the margin for error is quite small. He still believes that the US stock market is in a bull market, and the future trend is still upward, but the risk/return has significantly decreased. The setup is very demanding and the path will be unstable. However, the strategy of buying during significant pullbacks in the market in the past two years is still effective.
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高盛交易员：美股仍处Boğa Piyasası，但容错空间相当小
Gold Finance reported that Tony Pasquariello, a top trader at Goldman Sachs, pointed out that in the past 40 years, there have been five economic recessions that did not follow after interest rate cuts by the Federal Reserve. On average, the S&P 500 index has pumped 17% in the 12 months after the first interest rate cut. However, in the current interest rate cycle, the US GDP is strong at around 3%, and the Dow Jones and S&P indices have reclaimed historical highs. This makes the current stock market, especially the tech-heavy Nasdaq 100, less attractive in terms of risk/return, and the margin for error is quite small. He still believes that the US stock market is in a bull market, and the future trend is still upward, but the risk/return has significantly decreased. The setup is very demanding and the path will be unstable. However, the strategy of buying during significant pullbacks in the market in the past two years is still effective.