Catch Up Or Catch Down: Goldman Says Either Way, Momentum Loses As Breadth Sits At Dot-Com Extremes

Market breadth has been stuck near dot-com extremes for weeks, and something had to give. This week it did, just not in the direction bulls wanted.

In his latest US Weekly Kickstart, "What to own when slowing growth meets narrow breadth" (available to pro subs), Goldman's Ben Snider writes that the cost of capital has finally caught up with the growth story:

The Market Downgrades Growth, And Credit Got There First