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Goldman Says It’s Too Early to Call End to Equity Bull Market

  • Cyclicals won’t outperform without rising yields: Goldman
  • Global stocks’ rally came to a halt last week on macro data
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It’s too early to bid farewell to the decade-long equity bull market as stocks are still providing healthy returns for investors, according to Goldman Sachs Group Inc.

“Even with low profit growth the corporate sector has a high free-cash-flow yield and the dividend yield (plus buybacks) ought to still provide a reasonable relative return,” Peter Oppenheimer, Goldman’s chief global equity strategist, wrote in a note on Monday.