This Might Not be a Bull Trap After All: Latest Goldman Sachs Investor Survey Results

 "The risk is that this view may already be in the price," - Oscar Ostlund, Marquee Sales Strats at Goldman Sachs.

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Financial markets are in flux with investors, traders and analysts second guessing some of the big trends of 2022, making for an uncertain environment in which many could benefit from contemplating the results of the August Global Market Views QuickPoll from Goldman Sachs Marquee.

U.S. Dollar exchange rates corrected lower throughout the latter part of July and into the new month of August while some risky assets including many major stock markets notched up a second month of gains in tentative reversals for two major trends to have dominated global markets in recent times.

With the Dollar uptrend of yet to reassert itself and longer maturity government bond yields having extended a two month decline alongside the rebound in risky assets, many may be interested to hear how the movers and shakers of global markets are thinking of this uncertain period.

"Like most, I came into the month with a view that this rally was just a short-squeeze, would prove to be a bull-trap, and that financial conditions had to tighten more. With this August Marquee QuickPoll survey, my confidence has gone down," says Oscar Ostlund, a New York based director of Marquee Sales Strats at Goldman Sachs.

"I still think tighter financial conditions would be warranted (I am closer to the non-transitory/no soft landing/Blanchard-Summers-Dudley-El-Erian camp), but so does everyone else and the risk is that this view may already be in the price," Ostlund said of the results on Tuesday.

Highly relevant insights can be gleaned from the once monthly QuickPoll carried out through the Goldman Sachs Marquee platform, a digital marketplace for research and insights, investments, portfolio analytics and hedging solutions.

Registered users who participate can view the results as they come in and receive a comprehensive summary when each poll closes. 

There were more than 1,200 participants in this latest survey with polling beginning last Thursday and closing on the Friday at 16:00 London time. 

A selection of the big questions asked and the various answers given as of August 05 can be viewed below.