By Tony Pasquariello, head of Hedge Fund coverage at Goldman
Following an unforgiving stretch for risk assets, the market narrative was considerably more constructive this week: S&P went 5-for-5, summing up to a 5.9% rip, the best week of the year.
In a related (if reflexive) context, the specter of higher interest rates wasn’t in play: the broad contours of the data set were less hot, the refunding announcement wasn’t problematic and the Fed played things right up the middle.
