Goldman Sachs Exchanges
Keep on truckin’: Will the US continue to outperform other markets?
Jan 14, 2025
Sharmin Mossavar-Rahmani, head of the Investment Strategy Group at Goldman Sachs Wealth Management, shares her insights on the enduring dominance of the U.S. equities market. She discusses the robust outlook for U.S. investments, despite current high valuations, and the need for a strategic shift toward private investments. The conversation also covers China's economic struggles compared to Japan, the evolving role of gold, and the importance of strategic asset allocation to navigate market volatility effectively.
19:30
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Quick takeaways
- The U.S. economy's dominance is expected to persist into 2025, maintaining the preeminence of U.S. equities amidst market volatility.
- Strategic asset allocation, favoring U.S. equities and private assets, is recommended over speculative investments like Bitcoin and gold as inflation hedges.
Deep dives
U.S. Economic Preeminence
The discussion emphasizes the continued dominance of the U.S. economy, reflected in the theme of 'Keep On Truckin'' used in the investment outlook. This year, U.S. preeminence is underscored as the gap between the U.S. and other countries widens, with the consensus that this trend will persist into 2025. Despite high valuations, the expectation remains that a strong U.S. GDP growth rate of around 2.3% will support earnings growth, making current valuations manageable. This outlook suggests that investors should maintain their positions in U.S. equities despite market volatility.
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