What Broadening? Top Goldman Trader Says 'The Trade Is Still Long AI'

"What broadening?" says Goldman Sachs head of custom equity baskets, Louis Miller, to start his latest 'Global Reflections' note.

Some market participants thought an MOU on Iran would lead to a potentially ‘Pfizer vaccine’ style rotation, and this unequivocally has not happened, and doesn’t appear imminent absent an exogenous shock.

The trade is still long AI.