Goldman Trader: Clients Are Asking If Stocks Will Hit A New All-Time High This Year. The Answer Is "Yes"

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by Tyler Durden
Thursday, Jul 13, 2023 - 04:30 PM

As discussed in our CPI preview, Wall Street expectations were for a soft CPI. The final number ended up being a dovish bomb with a rounded-up 2-handle, sending the dollar tumbling and stocks soaring to respective 52 week lows/highs.

Wall Street, which has been extremely bearish for most of 2023, pretended as if it hadn't been dead wrong for the duration of the post-October bull market, and spun the CPI data as the all-clear for continued gains.

Here was GS econ’s take...