Goldman Sachs: Neutral 3-Month Stance, Risk-On 12-Month; Warns of Sell-Off Risk

Goldman Sachs maintains a neutral asset allocation for the next quarter, citing higher rates, seasonal weakness, and geopolitical risks, but remains moderately risk-on over 12 months with an overweight on stocks. The firm flags a slight risk of a violent sell-off but sees no room for a rally in the near term. This reflects a cautious near-term outlook amid ongoing Middle East and Russia/Ukraine conflicts.