Premium'Short Unprofitable Tech'; Top Goldman Macro Trader Says Market's Still Slave To Energy & Rates
The S&P is still a rates-and-oil derivative with a Nasdaq wrapper.
Goldman Sachs macro equity trader, Faris Mourad, spent Friday night reminding clients that this does not mean every other narrative is dead - it means the thematic book only gets to breathe when energy vol and the 10-year give it permission.