‘Bad Is Good’ Again, One Bank Finds

Stocks have returned to a "bad news is good news" regime. That's according to a new study from Goldman, which analyzed asset-price sensitivity to inflation and growth data. There were a number of key takeaways, but one that grabbed a few headlines on Monday was the implication that JPMorgan's acquisition of First Republic flipped the script for equities in terms of market reactions to incoming macro releases. "While the first five months of 2023 generally saw positive reactions to better gr