Abby Joseph Cohen: optimistic on Wall Street

Wall Street strategist Abby Joseph Cohen is keen on the US economy. But the bond market is another matter.

Abby Joseph Cohen of Goldman Sachs, one of the most well-known investment strategists on Wall Street, remains characteristically optimistic about the US economy, despite some "uncomfortable data points". The unemployment rate remains low, while personal income and wages continue to grow.

Consumer confidence has fallen slightly, but this "usually happens during a presidential election campaign". As a result, she thinks that the stockmarket will largely tread water, rising slightly by the end of the year. She's also bullish on the housing market, noting that Americans "are spending on home renovations", while "home sales are rising".

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