While the market's narrative is still focused on tariffs and inflation (and the Goldilocks fallout from both), Goldman Sachs futures traders have observed:
1) recent sustained risk-on flows in US equity space on the back of Trump's "Big Beautiful Bill" passing final votes;
2) inflation coming down while jobs stabilize; and
3) the Fed turning increasingly dovish.
In continuation of their home-made adage "Buy in May and let it play", we now argue to "come back in time for Labor Day".
