Goldman Sachs (GS) has turned very bullish, calling for 2.7% U.S. GDP growth in 2011 and a global rally.
Chief economist Jan Hatzius released a note yesterday targeting big gains for global equities and commodities.
Hatzius even sees improvement in Europe, with the euro rising against the dollar. Bullish market conditions will drive up bond yields in Japan, Europe and the U.S.
1. EQUITIES: MXAPJ (Asian Markets ex-Japan)
2010
Current: 449End of 2011: 580
Change: +29%
(Asian markets ex Japan) Chart from Bloomberg.
2. Stoxx Europe 600
2010
Current: 262End of 2011: 330
Change: 26%
(Europe index) Chart from Bloomberg.
3. S&P 500
2010
Current: 1,188End of 2011: 1,450
Change: 22%
Chart from Bloomberg.
4. TOPIX (Japan)
2010
Current: 875End of 2011: 1,000
Change: 14%
(Japan index) Chart from Bloo, tpxmberg.
5. BONDS: Germany 10-Year
2010
Current: 2.76End of 2011: 3.25
Change: 18%
Chart from Trading Economics.
6. Japan 10-Year
2010
Current: 1.14End of 2011: 1.50
Change: 32%
Chart from Trading Economics.
7. UK 10-Year
2010
Current: 3.36End of 2011: 3.75
Change: 12%
Chart from Trading Economics.
8. US 10-Year
2010
Current: 3.36End of 2011: 3.75
Change: 12%
Chart from Trading Economics.
9. FX: The euro
2009-2010
Current: 1.31End of 2011: 1.50
Change: 15%
Chart from Finviz.
10. $/JPY
2009-2010
Current: 84.38End of 2011: 90.00
Change: +6.7%
Chart from Finviz.
11. The pound
2009-2010
Current: 1.55End of 2011: 1.79
Change: +15%
Chart from Finviz.
12. US Dollar vs. Canadian Dollar
2009-2010
Current: 1.02End of 2011: 1.00
Change: -2.0%
Chart from Finviz.
13. Ausside Dollar vs. US Dollar
2009-2010
Current: 0.96End-2011: 1.02
Change: +6.3%
Chart from Finviz.
14. COMMODITIES: Copper
2009-2010
Current: 8,220End of 2011: 11,000
Change: +34%
Chart from Finviz.
15. Gold
2009-2010
Current: 1,366End of 2011: 1,690
Change: +24%
Chart from Finviz.
16. Oil
2009-2010
Current: 85.7End of 2011: 105
Change: 23%
Chart from Finviz.
17. Soybeans
2009-2010
Current: 12.4End of 2011: 14.0
Change: +13%
Chart from Finviz.
