Goldman Sachs is very optimistic on Europe economic growth

GS say that outside the US, the cyclical news is generally positive.

We are very optimistic in Europe

• new infection numbers remain low - the spike in confirmed cases in Germany last month has proven temporary
• high-frequency economic indicators are showing a robust rebound
• After hesitating initially, policy has also turned very supportive. Although we expect the EUR750bn Recovery Fund to shrink slightly to EUR600bn before implementation, it is coming alongside aggressive ECB asset purchases that should suffice to close the sizable "funding gap" of its Southern Member States.
• We therefore remain comfortable with our far above-consensus forecast that Euro area real GDP will grow nearly 25% over the next two years (in cumulative terms).

Meanwhile EUR is having a good session here:

Earlier from GS, not so optimistic oin the US:

• Goldman Sachs forecast for US GDP growth revised down