Pasquariello Answers Money Managers Top 5 Questions

Goldman Sachs' Tony Pasquariello addresses top concerns for money managers, focusing on the $600bn equity supply wave, midterm election volatility, and the aggressive positioning in AI stocks.

Key Takeaways

• 1.The forecast for 2026 equity supply is $600 billion, with $160 billion coming from IPOs.
• 2.While nominal equity supply is high, it remains manageable when viewed as a percentage of total market capitalization.
• 3.Equity market returns typically trade sideways during midterm election years, with volatility peaking in October.

Table of Contents

• 1. How big is the coming wave of equity supply?
• 2. Can the market handle that supply?
• 3. When will the market start to focus on the midterms?
• 4. When does the backup in rates begin to bite stocks?
• 5. How aggressive has the chase been for AI beneficiaries?

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