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Expect low returns in coming years

Goldman: Growth gap between US and rest of world will narrow, helping global stocks to catch up with US equities

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Japan's Topix index will rise 18 per cent by the end of 2015, while the S&P 500 Index will increase about 3 per cent, according to a team of Goldman Sachs analysts led by Dominic Wilson.

New York

GLOBAL markets from stocks to bonds are "priced to offer low absolute rates of return" in coming years, with equities, particularly in Japan, poised for the biggest gains, according to Goldman Sachs Group Inc.

Japan's Topix index will rise 18 per cent by the end of 2015,

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