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Goldman and Kass say no growth and rough times ahead!
This is important news – and it is not market constructive.
It is a conclusion that is consistent with my last five Surprise Lists – that domestic economic growth will be subpar for as far as the eyes can see…
http://www.zerohedge.com/news/2015-05-28/shocking-move-goldman-slashes-a…
This has large implications for not only the economy but for the market and its particular sectors.
It argues for lower/subdued interest rates and possibly lower valuations among other issues.
Rate sensitive market groups (e.g. closed end municipal bond funds) would be favored if Goldman’s projections are correct