Goldman Sachs just put Wall Street on alert with 2 words

July 19, 2016 3:05 PM

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"Although market-making conditions generally improved compared with the first quarter of 2016, Fixed Income, Currency and Commodities Client Execution continued to operate in a challenging environment characterized by low interest rates, political uncertainty and concerns about global growth," the firm said.

The words "challenging environment" are key. If things were looking positive, the firm most likely would have avoided that language.

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