It increasingly feels like 2024 will be another notch for the S&P vs the rest of the field, but Goldman Sachs macro trader, Bobby Molavi warns that the end of the year might also bring back some of the 2016 brand of headline and soundbite risks as we prepare for Trump 2.0.
Scott Bessent getting the treasury nod being viewed as a positive by the market and bringing a bout of normality and experience to the cabinet appointments in the eyes of many. Market reaction has been a lower $, an inverting 2 yr/10 yr, lower vol and Equity uptick. At the margin might reduce Tariff left tails (more negotiation than on principal).
