Cash Is a Better Hedge Than Bonds, Goldman’s Oppenheimer Says

Oppenheimer expects negative returns for bonds as stocks rally
The chief strategist is also eyeing European equities

Peter Oppenheimer, chief global equity strategist at Goldman Sachs, discusses the factors behind the firm’s call for the S&P 500 to hit 5,100 by the end of 2022. He speaks on “Bloomberg Markets.”Source: Bloomberg

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By Emily Graffeo and Alix Steel

November 16, 2021 at 6:33 PM UTC

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Investors may be better off hedging equity portfolios with cash than bonds, according to Goldman Sachs Group Inc.’s Peter Oppenheimer.

The chief global equity strategist told Bloomberg TV that while bonds have acted as a good counterweight to stocks for the past 20 years, low interest rates have changed the equation with him predicting negative returns for bonds in the years ahead.