In our Summer Review, Fall Preview report, we recap key economic and financial market news from the summer, and outline the Goldman Sachs Wealth Management Investment Strategy Group’s (ISG) expectations for the rest of the year.

Summer Review, Fall Preview

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"Summer Review, Fall Preview"

"The report covers key focus areas for investors including:\r\n<ul>\r\n<li>Highlights from July and August</li>\r\n<li>US economic outlook (growth;&nbsp;recession&nbsp;odds;&nbsp;inflation;&nbsp;monetary&nbsp;policy)</li>\r\n<li>US fixed income outlook</li>\r\n<li>US equities outlook</li>\r\n<li>Economic volatility, pullbacks &amp; risks</li>\r\n</ul>\r\n"

The report covers key focus areas for investors including:
<ul>
<li>Highlights from July and August</li>
<li>US economic outlook (growth;&nbsp;recession&nbsp;odds;&nbsp;inflation;&nbsp;monetary&nbsp;policy)</li>
<li>US fixed income outlook</li>
<li>US equities outlook</li>
<li>Economic volatility, pullbacks &amp; risks</li>
</ul>

"ISG recommends clients stay invested in a well-diversified portfolio at their long-term strategic asset allocation consistent with their risk tolerance. This recommendation is underpinned by several factors including a macroeconomic backdrop which remains supportive for equities. During past economic expansions, US equity markets were much more likely to generate a positive return. Since 1945, in years when the economy was expanding, the S&amp;P 500 has generated a positive annual total return 86% of the time, and a 20% or greater total annual return about 30% of the time, as shown in the chart below.\r\n"

ISG recommends clients stay invested in a well-diversified portfolio at their long-term strategic asset allocation consistent with their risk tolerance. This recommendation is underpinned by several factors including a macroeconomic backdrop which remains supportive for equities. During past economic expansions, US equity markets were much more likely to generate a positive return. Since 1945, in years when the economy was expanding, the S&amp;P 500 has generated a positive annual total return 86% of the time, and a 20% or greater total annual return about 30% of the time, as shown in the chart below.

"If this update sparks any questions about your personal situation, contact your Goldman Sachs Ayco advisor. \r\nInterested in learning more about Goldman Sachs Ayco workplace financial planning?&nbsp;<a href=\"https://www.ayco.com/contact-us.html\" title=\"Follow link\">Contact us</a>&nbsp;today.\r\n"

If this update sparks any questions about your personal situation, contact your Goldman Sachs Ayco advisor. 
Interested in learning more about Goldman Sachs Ayco workplace financial planning?&nbsp;<a href="https://www.ayco.com/contact-us.html" title="Follow link">Contact us</a>&nbsp;today.

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