Goldman Sachs: Before the Fed cuts interest rates, it is recommended to long the South Korean stock market and short the Brazilian stock market
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Against the backdrop of the Federal Reserve's upcoming rate cut, Goldman Sachs is bullish on the stock markets of South Korea, South Africa, and India. They recommend investors to long the Korean Kospi index and short the Brazilian Ibovespa index. Although the Brazilian stock market is approaching historical highs, anticipated rate hikes and weak demand may pose pressure on it. Moreover, the long-short ratio between Kospi and Ibovespa is close to a 5-year low, providing a good entry opportunity
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