How Wall Street's 'Goldilocks' Bet Kept Shifting

Wall Street relabeled "Goldilocks" conditions—that sweet spot of mild growth and contained inflation—three times in 2025: global markets in January, emerging markets in June, Indian equities by December. Each required rosier assumptions than the last. By August, Bloomberg signaled the end. The pattern reveals not a stable regime but a rotating chase for winners—a late-cycle warning sign.