The global economy may have bottomed out already and sequential growth will likely pick up from here, according to Goldman Sachs Group Inc, Chief Economist Jan Hatzius.
While growth remains soft, Goldman’s current activity indicator in February is slightly above the downwardly revised December and January numbers.
Key points
Positive on risk assets but upside probably lower now.
Retain bearish view on the USD, courtesy of dovish Fed.
Tentative positive signs of a turn around for China growth, Europe remains the weakest region.
Lower change of a Fed move in the next 6 to 9 months.
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