A decade of big gains for the S＆P 500 is over – Goldman．

(Bloomberg) — U.S. stocks will struggle to sustain the above-average performance of the past decade as investors turn to other assets, such as bonds, in search of higher returns. That view was expressed by strategists at Goldman Sachs Group Inc. An analysis by Goldman strategists including David Kostin predicts that the S&P 500 index will deliver just a 3 percent annualized nominal total return over the next decade. Over the past 10 years, it has been 13%, and the long-term average is 11%. The strategists also estimate there is roughly a 72% chance that the S&P 500 will underperform Treasuries and a 33% chance that it will underperform inflation through 2034. “Investors should prepare for stock returns over the next decade to be near the low end of the typical performance distribution,” the report said. U.S. stocks have rallied since the global financial crisis, first on the back of zero interest rates and then on hopes of solid economic growth. The S&P 500 is expected to outperform other national indexes in eight of the 10 years through 2024, according to data compiled by Bloomberg. But the S&P 500’s 23% gain this year has been concentrated in just a few of the biggest technology stocks. Goldman strategists predict that over the next decade, returns will be more diversified across a broad range of stocks, with the equal-weighted S&P 500 outperforming market-cap-weighted indexes. Original title: S&P 500’s decade of big gains is over, Goldman strategists say (excerpt).

Ｓ＆Ｐ500種の大幅上昇の10年は終わった－ゴールドマン（Bloomberg） - Yahoo!ニュース

（ブルームバーグ）： 投資家がより高いリターンを求めて債券など他の資産に目を向ける中で、米国株が過去10年のような平均を上回るパフォーマンスを維持することは難しいだろう。 ゴールドマン・サックス・グ

news.yahoo.co.jp