Goldman Sees Fresh Pain on Wall Street as Real Rates Rise
- Higher inflation-adjusted yields are hurting market valuations
- Christian Mueller-Glissmann sees enduring equity volatility
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Goldman Sachs Group Inc.’s Christian Mueller-Glissmann has a simple takeaway for clients on that latest inflation shock: Wall Street’s bad year is set to get worse.
According to the managing director of portfolio strategy and asset allocation, a behind-the-curve Jerome Powell is now under even greater pressure to ramp up inflation-adjusted interest rates in order to cool the hot business cycle -- threatening fresh damage for cross-asset portfolios.