Top Goldman Trader Drops Year-End Chartapalooza

When you check across the mega macro inputs that feed into your markets outlook... 

1/ global GDP 2.8% (30bps > consensus), 

2/ US GDP 2.6% (60bps > consensus), 

3/ China GDP 4.8% (30bps > consensus), 

4/ Euro area GDP 1.3% (20bps > consensus), 

5/ an ongoing acceleration in productivity growth (great for earnings, more questionable for the labor market), 

6/ inflation near target in most major economies (in fact, labor market & rent growth inflation in the US is already below pre-pandemic levels ...), and 

7/ 50bps more of non-recessionary Fed cuts.

Starting with the macro