Exchange With the Goldman Sachs Podcast - What Do You Think?

Christian Drexler: The big problem you have is a certain cyclical optimism across assets that has really come back in the last few weeks because of peak auctions and peak inflation. To me, literally all cyclical risky assets are vulnerable; equity risk-framing out to low, high-ed credit spreads are too tight. He says we're dealing next year with a kind of shift from inflation and rates volatility to growth volatility. "You don't want to overpay for growth too early."