Major investment banks turn sour on US equity outlook ...Qatar

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Major investment banks turn sour on US equity outlook
Warnings are getting louder that the relentless runup in American equity prices is set to falter. Strategists at Goldman Sachs Group Inc, Morgan Stanley and Citigroup Inc issued fresh missives on the potential for negative shocks to upend a streak of gains. The spreading delta virus strain, a flagging global growth recovery or moves by central banks to exit pandemic-era stimulus programmes all pose risks. “High valuations have increased market fragility,” Christian Mueller-Glissmann, managing director of portfolio strategy and asset allocation at Goldman Sachs, said in an interview. “If there is a new negative development, it could generate growth shocks that lead to rapid de-risking.” Posi

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