The Banking Sector is obviously a huge influencing factor on the ASX200 and with the “Big Four” significantly outperforming in 2021 its clearly been a positive one. With the local stocks starting to lose their upside momentum I thought it would be an ideal opportunity to review an American sector leader, Goldman Sachs (GS US). At this stage we remain bullish and while a short-term 10-15% pullback feels close at hand we still believe it would present a buying opportunity – this coincides with our current outlook for bond yields.
We are pondering whether to lock in some further profits across our respective sector holdings affording us the luxury to re-enter at lower levels if / when the pullback unfolds.
MM remains bullish Goldman’s & the US Banking Sector.
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