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Here is the context:

Following that, a number of banks have cut their exposure to equities due to the volatile nature of stocks in the first half the year. Earlier this month, Goldman Sachs downgraded stocks to "underweight" as part of its 3-month asset allocation citing global equities to be at the upper end of their "fat and flat range". (Source)

What does fat and flat range mean in this context?

closed as off-topic by SamBC, Nathan Tuggy, RubioRic, Hellion, laugh Mar 14 at 18:39

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