Meanwhile, those who are worried we’re entering stagflation or a looming recession point toward recent signs of job market weakness and the risk that tariffs reignite inflation, slowing spending, and sluggish consumer confidence.

SINGAPORE: Goldman Sachs raised its 12-month price target for Asian equities on Friday, citing a better growth outlook and easing trade tension after the US and China announced a temporary pause in tit-for-tat tariffs earlier in the week.

Goldman Sachs raised its forecasts for Chinese and U.S. economic growth, and cut its odds for a U.S. recession, after the countries agreed Monday to slash tariffs on each other's imports.