Goldman Sachs strategist: Still looking at risk assets for a long time, but the "most easy money" is probably over

On Wednesday, 3 September, Goldman Sachs strategist Christian Müller-Glesman, in his report to the client, gave recommendations on the current cross-asset allocation: while maintaining tactical neutrality over the next three months for all types of assets, the next 12 months would be slightly more risky, as evidenced by over-stocking, low-end credit, and neutral bonds, large commodities and cash. On the same day, Peter Oppenheimer, Global Stock Strategy Manager in Goldman Sachs, gave a more cautious return in a television interview, suggesting that the return of the upper-digit digits in most markets over the next 12 months, while “relatively good”, would be significantly lower than the increase already achieved in the past year. The signals released by the two materials on the same day were consistent: the long-term attractiveness of the risk asset remained, but the easiest money could have been earned。