By Daniel Tilles
Oct. 5 (Bloomberg) -- The global economy remains favorable for higher-risk assets even after market declines, according to Goldman Sachs Group Inc.
“With the market lower, the near-term risk-reward is more balanced and our core view is that the macro backdrop is still quite friendly for risky assets,” Dominic Wilson, a senior economist at the bank in New York, wrote in a report received yesterday. “The tactical issue is still the difficulty in identifying strong upcoming positive catalysts. Third-quarter earnings might help now the market is down, but without a strong prior it is hard to be sure.”
To contact the reporter on this story: Daniel Tilles in London at dtilles@bloomberg.net
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