Goldman Sach’s Silvia Ardagna said they can see “light at the end of the tunnel” on the impact of the coronavirus pandemic which has devastated the global economy.
According to a report by Bloomberg, Ardagna, managing director in the investment strategy group for Goldman Sachs Private Wealth Management, told investors there is light at the end of the tunnel.
She said in a phone interview,
We see light at the end of the tunnel because we believe that sooner or later the medical community will make breakthroughs, and because the fiscal and monetary response around the world, especially in the U.S., where we’re overweight stocks, has been pretty aggressive and forceful.
Ardagna explained her group is encouraging private clients to take advantage of the dip in prices in equity markets, which she believes are positioned for a rebound.
She said,
Our own advice to clients is that right now is a good time to get back into markets and take advantage of the decline in equity markets to position for the rebound.
Goldman strategists anticipate a sharp near-term decline in the global economy, followed by a “v-shaped rebound” in the second half of the year.
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