Ann: Minbos Secures Site For Capanda Green Ammonia Project, page-168

As Minbos closes in on funding and production, the main significant risk remaining after funding as I see it is market risk. I'm still seeing a lot of commentary that a US recession is still being signalled by yield inversion. However we have been hearing that for at least two years now and still no recession in the US. Could that signal be wrong? A recession was probably looking highly likely as inflation kept growing last year despite interest rate hikes and even more so when larger US banks were failing. However inflation has fallen a long way since the peak and the US is still looking strong enough to potentially avoid recession.
Now Golman Sachs has dropped their recession risk to just 20%. If they're right, I think small caps have the most upside as the large caps have already rallied hard but small caps are still weak.

"Don't worry about stocks with the Fed closing in on its dream no-recession scenario, Goldman Sachs says

Stocks' disappointing run in August is likely a short-term blip rather than a longer-term trend, according to Goldman Sachs.In a note to clients seen by Insider, the bank restated its view that there's just a 20% chance the US suffers a recession within the next 12 months – and said the Federal Reserve is closing in on a dream soft-landing scenario that will help equities rebound.The benchmark S&P 500 has dropped 2% already this month, while the tech-heavy Nasdaq Composite is down 4% and just suffered its first two-week losing streak of 2023.But "the runway for a soft landing is in sight, and should support risk assets in coming months," Goldman Sachs' chief economist Jan Hatzius said Monday, referring to the ideal economic outcome where the Fed brings inflation down to its 2% target without triggering a recession.
Search marketsDOW 30-1.02%S&P 500-1.16%NASDAQ 100-1.10%HOME NEWS STOCKSDon't worry about stocks with the Fed closing in on its dream no-recession scenario, Goldman Sachs saysGeorge Glover Aug 15, 2023, 9:04 PM GMT+9:30tradersStocks have slipped lower in August after starting 2023 with a breakneck rally. Mario Tama/Getty ImagesStocks have given up some of their gains in August, after starting 2023 on a tear.But investors shouldn't fret about the declines, according to Goldman Sachs.There's just a 20% chance of a recession and the Federal Reserve is closing in on its dream "soft landing" scenario, the bank said in a recent research note.Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily.Email addressEmail addressBy clicking ‘Sign up’, you agree to receive marketing emails from Insider as well as other partner offers and accept our Terms of Service and Privacy Policy.Stocks' disappointing run in August is likely a short-term blip rather than a longer-term trend, according to Goldman Sachs.In a note to clients seen by Insider, the bank restated its view that there's just a 20% chance the US suffers a recession within the next 12 months – and said the Federal Reserve is closing in on a dream soft-landing scenario that will help equities rebound.The benchmark S&P 500 has dropped 2% already this month, while the tech-heavy Nasdaq Composite is down 4% and just suffered its first two-week losing streak of 2023.But "the runway for a soft landing is in sight, and should support risk assets in coming months," Goldman Sachs' chief economist Jan Hatzius said Monday, referring to the ideal economic outcome where the Fed brings inflation down to its 2% target without triggering a recession."The disinflation of the past few months has made us more confident that Fed officials are done hiking rates," he wrote, referring to the fact that headline inflation has started to cool off as the economy feels the full impact of the central bank's aggressive tightening campaign.Hatzius also predicted that spiking bond yields will soon stabilize as investors factor in the end of the Fed's hiking cycle and realize they've been "overestimating the near-term impact of increased Treasury supply", with the US ramping up its debt issuance in recent weeks.Steadier longer-term yields would likely boost stocks by reducing the relative appeal of fixed income as a potential alternative.The economist added that benchmark oil prices, which have jumped around 15% to over $80 a barrel since the start of July, will hold at their current level due to a rise in spare capacity, more activity from international offshore projects, and slowing production cost inflation in the US.

https://markets.*.com/news/stocks/stock-market-outlook-recession-federal-reserve-soft-landing-goldman-sachs-2023-8