NEW YORKâGoldman Sachs Group Inc., hitherto one of the biggest Treasury-bond bulls on Wall Street, now says the rally has seen its peak and the best trade going forward is to buy stocks, not bonds.
Francesco Garzarelli, chief interest-rate strategist at Goldman Sachs in London, said that the benchmark 10-year note's yield has seen its bottom in the 2.45%-to-2.50% area, breaking ranks with other bulls.
"Equity offers much better return opportunity than bonds going forward," said Mr. Garzarelli in a telephone interview.
U.S. stocks beat Treasurys and other U.S. fixed-income assets in September. The Dow Jones Industrial Average handed investors ...
http://online.wsj.com/article/SB100...8366.html?mod=WSJ_hpp_LEFTWhatsNewsCollection
Typical ambivalent Goldman "talk". What about their QE II calls ?
Francesco Garzarelli, chief interest-rate strategist at Goldman Sachs in London, said that the benchmark 10-year note's yield has seen its bottom in the 2.45%-to-2.50% area, breaking ranks with other bulls.
"Equity offers much better return opportunity than bonds going forward," said Mr. Garzarelli in a telephone interview.
U.S. stocks beat Treasurys and other U.S. fixed-income assets in September. The Dow Jones Industrial Average handed investors ...
http://online.wsj.com/article/SB100...8366.html?mod=WSJ_hpp_LEFTWhatsNewsCollection
Typical ambivalent Goldman "talk". What about their QE II calls ?