'The Only Material Buyer Of This Dip Was Mr & Mrs Retail'; Goldman Macro Trader Sees 'Path To Real Market Tailwinds'

Authored by Bobby Molavi, Goldman Sachs Macro trader,

Sea change

S&P near 5700 and back to only -3.7% on the year. The Nikkei up 20% from the April lows. The FTSE witnessing the longest consecutive winning streak in its history (up 16 days in a row). The Dax, fueled by fiscal and defence sitting pretty up 17% on the year. And…our old favourite….Bitcoin….back above $100k.