STOCKS | Goldman Sachs Turns Slightly Risk-On Over 12 Months, Sees Lower Returns Ahead

Goldman Sachs strategist Christian Mueller-Glissmann said the firm is tactically neutral across assets over the next three months and slightly risk-on over the next 12 months, with an overweight on stocks and an underweight on credit. According to Sina Finance, bonds, commodities, and cash are all neutral in the same framework. Goldman Sachs global equity strategy chief Peter Oppenheimer gave a more cautious return outlook in a television interview, saying most markets could deliver mid- to high-single-digit returns over the next 12 months, but that would be well below the gains already posted over the past year. According to Sina Finance, he said the stronger returns are likely behind the market.