Santa Rally Now, Price Resets Later: Is Goldman's Year-End Squeeze Call Just The Latest Consensus Trade To Fade?

Three weeks ago, nobody wanted to own anything with a GPU in it. This week, the AI complex lost its de facto central banker and the market... shrugged.

That is the setup behind the latest "Macro Roadmap" from Goldman's Cosimo Codacci-Pisanelli (written with Rikin Shah, and available to pro subs), which opens with a one-liner that would have sounded deranged on Halloween: "Can Christmas come early?"

A Decade's Worth Of Degrossing In A Few Weeks