PremiumSell (Or Buy) America? Goldman Traders Lay Out The Best Trades Across FX, Rates, & Commodities
Across many metrics (growth, financial conditions, employment, consumer confidence and spending levels etc) the US economy is outperforming most other economies and, with the “run it hot” consensus narrative for this year, it is expected to continue doing so with a high probability.
Despite that, as top Goldman Sachs trsader Abel Elizade points out in his latest note, the dominating narrative in cross asset markets over the past months have been the “Sell America” one, on the back of a combination of factors spanning from geopolitics, tariffs, resources’ security, demand for politically-safe reserve assets etc.