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Forex Flash: Equities remain positive during active periods – Goldman Sachs

FXstreet.com (Barcelona) - In thinking about how best to position for macro trends, we have placed a lot of weight on gauging the state of the macro cycle and trying to understand how different states translate into different asset market outcomes. According to the Economics Research Team at Goldman Sachs, “We focus in particular on the parts of the month when ‘key data’ are released, that is, on ‘active’ periods rather than ‘lull’ periods when there is no meaningful mass of new economic information.”

Moreover, “We find that in favorable economic contexts equity returns are positive in active periods (negative in lulls). In negative contexts, returns are negative in active periods (positive in lulls). Bonds and FX markets also show meaningful differences between active and lull returns.” the team adds.

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