Goldman Sees ‘Wall of Money’ Fueling Stock Market’s Summer Party
- Passive inflows, early July strength set up continuing rally
- ‘Seeing a re-emergence in retail traders,’ Rubner says
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A flood of cash from passive equity allocations will pour into the stock market in early July, setting up a continuing rally through the early summer, according to Goldman Sachs Group Inc.’s trading desk.
“New quarter (Q3), new half year (2H), this is when a wall of money comes into the equity market quickly,” Scott Rubner, Goldman’s global markets division managing director and tactical specialist, wrote in a note to clients Wednesday.