"Gains of 2.3% for the S&P 500 in August, 1.8% for an ETF tracking long-dated Treasuries and 1.5% for investment-grade bonds all amount to a big show of force by cross-asset bulls, who are convinced Fed Chair Jerome Powell will cut rates into a healthy economy."
"Everything has to go right," said Lindsay Rosner, head of multi-sector investing at Goldman Sachs Asset Management. "We need to continue to have trend or above trend economic growth. We need to have a labor market that's not too hot, not too cold. And that then would allow for the consumer to continue to consume. Those things all have to be in a perfect balance."
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