Goldman just put out a long-term forecast that sees 90% chance stocks beat bonds over 10 years

Traders work on the floor of the New York Stock Exchange.
Lucas Jackson | Reuters

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Investors should favor stocks over bonds for the next decade since there's a greater than 90% chance that equities will outperform through 2030, according to Goldman Sachs.

The firm believes that the S&P 500 will return an average of 6% over the next ten years, including dividends, with the high and low forecasts coming in at 11% and 2%, respectively.

"Our analysis implies an investor buying both assets today has a 90% probability of generating a superior return from stocks compared with holding a 10-year US Treasury note through its maturity in 2030," the firm said.

Goldman's analysis is based on five factors: