Macro
The world’s most powerful central bank, the Fed, has hiked rates nine times since 2015. After a policy of providing guidance, and sticking to it, the Fed abruptly turned dovish in December. Fed policy is one of the key drivers for markets globally, particularly given the backdrop of quantitative tightening,... Show More
A recent visit by the Investor Relations manager of a well-known global diversified investment bank served as a reminder of why, in our opinion, investors should always be cautious of investing in such financial conglomerates, particularly where a large portion of the business is an investment bank. Show More
The Analysts at Goldman Sachs say “In the next ten years, the auto industry will undergo a profound transformation: the cars it builds, the companies that build them and the consumers who buy them will look significantly different. Technology will be leading this change, but it will be shaped by... Show More
Philip Moffitt, GSAM’s Asia-Pacific head of fixed income says the Aussie dollar could rebound as the Federal Reserve holds off lifting interest rates and concerns about China subside. "We did interpret that decision in September as introducing something new, which was an eye on markets and risk assets. The Fed's... Show More
Glencore’s shares, after floating in 2011 (with a share price of 542p) today hit a low of only 68p. In recent days a collective of investment banks including Goldman Sachs have voiced concerns that the company may not be cutting its debt quickly enough. Investec in a recent note says... Show More
“Fidelity Investments, which oversees the largest China funds outside of the mainland, is joining Goldman Sachs Group Inc. in saying that Chinese stocks are a buy following the worst selloff in two decades.” (Bloomberg) Our view? There have been some big short positions in China’s stock markets, including from some... Show More
In a recent report from Goldman Sachs, analysts bring up an interesting discussion on US productivity. Basically, the current productivity numbers may be understating the contribution of information technology. Goldman calls this the ‘productivity paradox’. Current productivity numbers show growth at 1.5%, below the long-term average of 2.25%. Drilling down... Show More
In a recent note, Goldman analysts say the rebound in commodity prices over the last several weeks isn’t going to hold. The investment bank believes the rally will reverse due to a stronger US dollar, cheaper oil, and an economic slowdown in China. GS is most concerned with copper, which... Show More
Research from Goldman Sachs points to dividend yields as being the key component to stock-based gains for the foreseeable future. Essentially, with US equities at all-time highs, Goldman says dividends will be the "sole contributor to total return during the next 12 months". The investment bank also said the “market... Show More
Goldman Sachs research team has released a note on the oil market, predicting oil will stay at lower levels for the rest of the decade and that M&A activity will rise. “We believe the decline in oil prices and potential lower-for-longer environment will drive increased M&A activity over the next... Show More
