The head of Goldman Sachs’ hedge fund stated that metal stocks have made the performance of the seven major technology giants appear comparable to U.S. Treasury bonds.
According to Zhitong Finance APP, Tony Pasquariello, head of Goldman Sachs’ hedge fund business, stated that the performance of metal and mining stocks makes the seven large-cap U.S. technology giants appear as stable as U.S. Treasury bonds. The returns of stocks linked to metals such as gold, copper, and rare earths have fluctuated far more than those of the “more stable” and historically strong-performing tech giants.
Given the low volatility typically associated with U.S. Treasury bonds, Pasquariello believes that the stocks of the seven tech giants may be better suited as a safe-haven asset to protect against the significant fluctuations and speculative nature seen in the metals and mining industries in recent years.
Rare earths have remained a focal point in…
