‘Leap Of Faith’: Summer Rally Has S&P At Goldman’s Year-End Target

US equities reached Goldman's year-end target four months early. As you can imagine, the bank's clients are asking the same question everyone else is asking -- namely, they're curious if the rally is predicated on a legitimate supposition about a potential Fed pivot or if this summer's rebound was merely a bear market rally now primed for "reaping," as Bloomberg put it, in a colorful piece published late last week. The bank's David Kostin said a "key macro driver has been the willingness of fu