Top of Mind: Animal Spirits, Growth and Markets

Published on24 APR 2017

The surge in sentiment and asset prices since the US election has led some to argue that “animal spirits” are at work. Whether this exuberance continues and translates into real economic activity is Top of Mind. Goldman Sachs Research’s Allison Nathan surveys the evidence and explains why strong acceleration in growth from animal spirits or otherwise isn’t a clear positive for investors. 

Read an excerpt from Top of Mind

Whether or not animal spirits are at work, for the S&P 500 to move higher, what investors really need to see is economic growth translating into earnings growth.

- Allison Nathan

Allison Nathan
Senior Strategist, Global Investment Research, Goldman Sachs