Goldman Sachs: The Current Stock Market Rally Is Overdone As Global Uncertainty Soars

Stock Market Rally is going a bit too quickly, says Goldman Goldman Sachs is usually one of the most optimistic voices on Wall Street. The bank rarely issues bearish market outlook forecasts. So yesterday’s bearish Portfolio Strategy report, from the bank’s equity portfolio strategy team, led by Ian Wright hit the wires, it’s fair to say the team’s call to ignore the recent equity market rally and hold cash instead raised a few eyebrows. Specifically, Ian Wright and team remain overweight cash in their asset allocation over both three and 12-month horizons in order to hedge against potential equity market…