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Goldman Sachs Says Buy Global Stocks After ECB’s Stimulus

The European Central Bank’s decision to boost stimulus measures was enough to make Goldman Sachs Group Inc. change its mind about the short-term fate of the global equity market.

The bank raised its three-month rating on stocks to overweight, the equivalent of buy, according to a report from its portfolio strategy group. Higher bond yields pose less of an imminent threat to equities following the ECB’s decision last week to unexpectedly lower key interest rates and implement an asset-buying plan, the firm said.