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Morgan Stanley, Goldman Say Stocks Have Yet to Find a Bottom

  • Odds of a recession continue to rise, with weak jobs data: MS
  • Goldman’s Oppenheimer says too soon to dismiss inflation fears
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US Is Already in a 'Mild Recession,' Says Siegel
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A rally in stock markets may prove to be short-lived as inflation pressures remain high and a recession seems increasingly likely, according to strategists at Morgan Stanley and Goldman Sachs Group Inc.

While the slump in equities since the beginning of the year reflects investor expectations of a contraction in growth, “I don’t think a deep recession is being priced yet,” said Peter Oppenheimer, chief global equity strategist at Goldman Sachs. “It’s premature to believe inflation is going to come down quickly or the pressure has eased for the Federal Reserve and other central banks to tighten,” he said on Bloomberg TV.