Risk Avoidance = Returns Avoidance Into Payrolls; Goldman Macro Trader

Authored by Paolo Schiavone, Goldman Sachs macro trader,

“Risk avoidance ends up in return avoidance. We have to knowingly, intelligently take risk for profit.”

1. With liquidity abundant and cross-asset volatility falling, risk-reward favors moving out the risk curve. Momentum and carry are well-supported in June.