Goldman Sachs Strategists Say Bear Market Will Last in 2023
- See S&P 500 ending 2023 little changed, Asian stocks leading
- Markets to reach final trough next year before strong rebound
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Equity investors hoping for a better year in 2023 will be disappointed, according to Goldman Sachs Group Inc. strategists, who said the bear market phase is not over yet.
“The conditions that are typically consistent with an equity trough have not yet been reached,” strategists including Peter Oppenheimer and Sharon Bell wrote in a note on Monday. They said that a peak in interest rates and lower valuations reflecting recession are necessary before any sustained stock-market recovery can happen.