Bitcoin was the least favorite investment among chief investment officers, followed by new IPOs, a Goldman Sachs survey has found.
U.S. stocks look set for a subdued start to the week, after closing higher on Friday following weaker-than-expected jobs data for May.
Bitcoin’s rally to that peak had been partially attributed to more institutional adoptions of the crypto assets, according to some analysts and commentators. “Their most favorite is Growth style but least favorite on bitcoin,” added the strategists, led by Timothy Moe. In fact, 35% said the world’s No. 1 cryptocurrency was their least favorite, followed by new initial public offerings with 25%, and rate sensitivities with 20%.
iframe.twitter-tweet { width: 100% !important; } Goldman’s CIO survey produced a number of other results, finding that chief investment officers were most bullish on China A shares and Japan’s benchmark Nikkei 225 NIK, +0.27% index. Their biggest concern for the market was inflation and interest rates, expecting the U.S. Federal Reserve to start tapering in the first half of 2022, with the first interest rate increases coming in the second half of next year.
Tesla has canceled plans for a Model S Plaid Plus electric car because the regular Plaid is “just so good,” Musk said in a series of tweets on Sunday.
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