The Nasdaq MarketSite in the Times Square neighborhood of New York, U.S., on Tuesday, May 31, 2022. The S&P 500 defied bear market status just over a week ago and is set to finish May roughly where it started. Photographer: Michael Nagle/Bloomberg
Locked
Strategists say bear market will last in 2023
Investors hoping for a better year in 2023 will be disappointed, according to strategists, who said the bear market phase is not over yet.
By Farah Elbahrawy
(Bloomberg) — Equity investors hoping for a better year in 2023 will be disappointed, according to Goldman Sachs Group Inc. strategists, who said the bear market phase is not over yet.
"The conditions that are typically consistent with an equity trough have not yet been reached," strategists including Peter Oppenheimer and Sharon Bell wrote in a note on Monday. They said that a peak in interest rates and lower valuations reflecting recession are necessary before any sustained stock-market recovery can happen.
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