The ‘New Goldilocks’: Goldman’s Four Macro Scenarios

If you ask BofA's Michael Hartnett, the S&P is "more likely" to drop to 3,400 over the next six months than it is to rally all the way up to 4,400. Those are arbitrary numbers, of course, but the point is just to say if you're weighing the chances of US equities tacking on another double-digit gain versus the chances of a technical correction, Hartnett thinks the odds are skewed in favor of the latter. The S&P closed at a record Friday thanks to an afternoon surge. In some sense, it's