- ‘Probability of a drawdown is rising’: Goldman’s Pasquariello
- Risks include US fiscal deficit and narrow rally in US stocks
After a blistering rally driven by the biggest technology stocks pushing the S&P 500 to a string of all-time highs this year, it’s “a good time to tap the brakes,” according to Goldman Sachs Group Inc.’s Tony Pasquariello.
“It’s a bull market, but the probability of a drawdown is rising,” Pasquariello, the bank’s global head of hedge fund coverage, wrote in a note to clients Friday. “So I would look for places to reduce overall portfolio risk as we navigate the next phase of the political game.”
