Goldman Flip-Flops Again – Upgrades Stocks, Bunds, & High-Yield Credit

Jon Alternative Media, Blogosphere, Economy, Market Commentary

Just 2 months ago, the illustrious muppet catchers at Goldman Sachs stated that both stocks were 30-45% overvalued but lifted its year-end target in what we subjectively described as ‘moronic drivel’. Then, 2 short weeks after that ‘upgrade’, the same thought-provoking sell-side strategist downgraded stocks on the basis that a ‘sell-off in bonds could lead to short-term weakness in stocks’. Now, with the S&P 500 closing at new record highs on the worst employment data of the year, Goldman is at it again -upgrading equities to overweight for the next 3 months, rolling index targets forward, and piling investors into high-yield credit. Welcome to muppetville…
First – BUY!
July 12th 2014: Goldman Admits Market 40% Overvalued, Economy Slowing, So… Time To Boost The S&P Target To 2050 From 1900 Then – SELL!
July 26th 2014: Two Weeks After Upgrading Stocks, Goldman Downgrades Stocks Now – BUY AGAIN!!
September 5th 2014: Upgrading Equities

This post was published at Zero Hedge on 09/06/2014.