Commodities were the best-performing asset class in 2022 but have recently taken a hit as recession fears loom. So what's in store for them in 2023? In the latest episode of Exchanges at Goldman Sachs, Jeff Currie, global head of commodities research, explains why commodities are poised to outperform. Learn more about your ad choices. Visit megaphone.fm/adchoices
What are the long-term trends shaping the global economy? What countries are likely to power global growth in the decades to come? In the latest episode of Exchanges at Goldman Sachs, Kevin Daly, co-head of the economics team covering Central & Eastern Europe, the Middle East and Africa, discusses the team’s long-term projections and the continued convergence between emerging and developed market economies. Learn more about your ad choices. Visit megaphone.fm/adchoices
What’s in store for economies and markets in 2023? In the latest episode of Exchanges at Goldman Sachs, Jan Hatzius, head of Goldman Sachs Research and the firm’s chief economist, and Dominic Wilson, Senior Advisor in the Global Markets Research Group, explain why they believe the U.S. can avoid a recession and how the economic landscape is improving in Europe and China in 2023. Learn more about your ad choices. Visit megaphone.fm/adchoices
After soaring to record levels in 2021, the global M&A market slowed in 2022 against a challenging economic environment. So what can we expect in 2023? In the latest episode of Exchanges at Goldman Sachs, Stephan Feldgoise and Mark Sorrell, the co-heads of the Global Mergers and Acquisitions business in Goldman Sachs Investment Banking, discuss the drivers behind 2022’s activity and what to expect in the year ahead. Learn more about your ad choices. Visit megaphone.fm/adchoices
The recent rapid collapse of cryptocurrency exchange FTX on the heels of the crash of Terra’s Luna stablecoin and the failure of the Celsius crypto lending platform has sent shockwaves through the crypto ecosystem. In the latest episode of Exchanges at Goldman Sachs, Former Chairman of the Securities and Exchange Commission Jay Clayton, Former Chairman of the Commodity Futures Trading Commission Timothy Massad, Head of Research at One River Asset Management Marcel Kasumovich, and Professor at Ya...
Banks are often seen as a bellwether for the economy—so what are they signaling about the outlook for the US? GS Research’s Richard Ramsden and Alex Blostein discuss in the latest episode of Exchanges at Goldman Sachs, also sharing the themes and sentiment they took away from the recent GS US Financial Services Conference. Learn more about your ad choices. Visit megaphone.fm/adchoices
Market volatility, inflation and positive correlations across assets have put a question mark on the diversification benefits of multi-asset portfolios. In the latest episode of Exchanges at Goldman Sachs, Goldman Sachs Research’s Christian Mueller-Glissmann, who heads asset allocation research, breaks down what investors should keep in mind when building portfolios in 2023. Learn more about your ad choices. Visit megaphone.fm/adchoices
Rising concerns over climate change are spurring investments into clean energy to help bring the world closer to net zero. But where are we in that transition? And how is that path to decarbonization affecting investments in traditional oil and gas projects? In the latest episode of Exchanges at Goldman Sachs, Michele Della Vigna, head of natural resources research for Goldman Sachs in EMEA, explains the impact of higher fossil fuel prices on the low-carbon transition and the investment that is ...
Central banks’ aggressive policy tightening has raised concerns about what could break in a global financial system accustomed to low rates. In the latest Exchanges at Goldman Sachs, Goldman Sachs’ Allison Nathan speaks with Jeremy Stein, Professor at Harvard University and a former Federal Reserve Board Governor, and Vítor Constâncio, former vice president of the European Central Bank, about which financial stability risks are worth watching, whether policymakers have the tools to manage those ...
Plentiful natural gas supplies and mild weather across Europe are creating optimism that the continent may be able to avoid shortages and blackouts this winter. But is that optimism premature? In the latest episode of Exchanges at Goldman Sachs, Goldman Sachs Research’s Samantha Dart, a senior energy strategist who focuses on the natural gas markets, and Jari Stehn, our chief European economist, discuss the state of Europe’s energy crisis and its impact on the broader European economy. Learn mor...
As the voting continues from the U.S. midterm elections, the results so far indicate a status quo in country’s political divisions. But what does a divided Congress mean for policy, markets and economic growth? In the latest episode of Exchanges at Goldman Sachs, Goldman Sachs Research’s Alec Phillips and the Office of Government Affairs’ Joe Wall analyze the results of the U.S. midterm elections and the impact for policy and economic growth. Learn more about your ad choices. Visit megaphone.fm/...
As the holiday shopping season kicks off — against a backdrop of high inflation and slowing economic growth — will consumers continue to remain a bright spot in the U.S. economy? In the latest episode of Exchanges at Goldman Sachs, Goldman Sachs Research’s David Mericle, chief U.S. economist, Kate McShane, U.S. retail analyst, and Eric Sheridan, U.S. internet sector analyst, discuss the health of the consumer and the implications for economic growth. Learn more about your ad choices. Visit megap...
Amid rising interest rates, high inflation, and market volatility, a challenging macroeconomic environment is throwing individuals’ retirement readiness off track. In the latest Exchanges at Goldman Sachs, Michael Moran, a senior pension strategist in Goldman Sachs’ Asset Management Division, explains how today's complex backdrop, as well as competing financial priorities, are affecting individual retirement plans. This episode is based on the latest findings from the team’s Retirement Survey & ...
What’s top of mind for exceptional entrepreneurs? In the latest episode of Exchanges at Goldman Sachs, Goldman Sachs’ Kim Posnett, global head of Investment Banking Services, sat down with two company founders — Henrique Dubugras, co-founder and co-CEO at Brex and Carolyn Childers, co-founder and CEO at Chief — to discuss their founder journeys, how their businesses are adapting to a challenging macro environment, and what they are most optimistic about for their futures. The episode was recorde...
The 20th Party Congress of the Chinese Communist Party, which kicked off on Sunday, promises to be one of the most significant events for China in modern history, not only because President Xi Jinping is widely expected to secure an unprecedented third term, but also because it comes amid the country’s slowest pace of growth in decades. So, whether the Congress marks an inflection point for economic policy is Top of Mind. In the latest episode of Exchanges at Goldman Sachs, Susan Shirk, chair of...
It’s been a bleak year for the stock market which, despite some short-term rallies, is still firmly entrenched in bear market territory. So where do we go from here? In the latest episode of Exchanges at Goldman Sachs, David Kostin, chief U.S. equity strategist in Goldman Sachs Research, discusses the outlook for U.S. equities and the sectors and styles still working in today's environment. Learn more about your ad choices. Visit megaphone.fm/adchoices
What’s behind the volatility in the currency markets—and how much higher can the dollar go? In the latest episode of Exchanges at Goldman Sachs, Kamakshya Trivedi, Head of Global Foreign Exchange, Interest Rates and Emerging Markets Strategy, discusses what a surging US dollar and falling currencies across markets from the UK and Japan to China and Europe mean for global growth. Learn more about your ad choices. Visit megaphone.fm/adchoices
One of the fastest-growing sectors in the fashion and apparel industry has been the resale market, fueled by price and environmental concerns. So what are the opportunities and challenges for retailers and investors? And how will the macro challenges facing today’s consumers affect the sector? In the latest episode of Exchanges at Goldman Sachs, James Reinhart, CEO & Co-founder of thredUP, and Karen Levin, a managing director in Goldman Sachs’ Consumer Retail Group, discuss the rise of secondhan...
In the fight to combat high inflation, the Federal Reserve and the European Central Bank have embarked on aggressive tightening paths. But how much damage to economic growth will they ultimately have to inflict to win this fight? In the latest episode of Exchanges at Goldman Sachs, Jan Hatzius, Goldman Sachs’ chief economist and head of Goldman Sachs Research, and Olivier Blanchard, C. Fred Bergsten Senior Fellow at the Peterson Institute, debate whether the Fed can rebalance an overheated labor...
Has the stock market hit bottom yet? Or are we seeing another false bottom? In the latest episode of Exchanges at Goldman Sachs, Peter Oppenheimer, Chief Global Equity Strategist and head of Macro Research in Europe, explains why the bear market in stocks isn’t over. Oppenheimer’s latest research, which analyzes the characteristics of bear markets over time, suggests that investors are likely to see further bumpy markets before a decisive trough is established. Learn more about your ad choices. ...
While the real estate market has been a near sure-fire investment in recent years, rising rates, inflation and recession risks are reshaping the investment landscape. In the latest episode of Exchanges at Goldman Sachs, Jeff Fine, global head of Real Estate Client Solutions and Product Strategy, and Nora Creedon, an investor in our private Real Estate business in Goldman Sachs Asset Management, look at how the new macro realities are creating new risks and opportunities for investors. Learn more...
The business of life sciences came into sharp focus after the pandemic highlighted the effectiveness of mRNA vaccines in protecting people against COVID. But what exactly is life sciences and is the recent market weakness a threat to future innovation — or an opportunity? In the latest episode of Exchanges at Goldman Sachs, Amit Sinha, head of Life Sciences Investing in Goldman Sachs Asset Management, discusses the evolution of life sciences and how investors are approaching the risks and opport...
The recent decline in commodity prices has provided a rare respite for central banks trying to rein in high inflation. But are the energy and food crises afflicting the world actually easing? In the latest episode of Exchanges at Goldman Sachs, commodity bull Jeff Currie, Goldman Sachs’ Global Head of Commodities Research, and commodity bear Gary Shilling, President of A. Gary Shilling & Co., debate whether the recent commodity price declines will prove temporary or more lasting while Meghan O’S...
In this episode of Exchanges at Goldman Sachs: Great Investors, Tara Alhadeff, partner at Permira, talks with Alison Mass, chairman of Goldman Sachs’ Investment Banking Division, about investing in iconic brands like Doc Martens, Valentino and Golden Goose and the outlook for discretionary spending in times of volatility. Learn more about your ad choices. Visit megaphone.fm/adchoices
The Asian American community has seen marked success in education, income and innovation but remains underrepresented in managerial and executive positions, according to new research from Goldman Sachs Research. In the latest episode of Exchanges at Goldman Sachs, Goldman Sachs Research’s Hui Shan, Chief China Economist, and Daan Struyven, Senior Global Economist, discuss the contributions and challenges of the Asian communities in the U.S. and countries across the globe — and the role that poli...
In this episode of Exchanges at Goldman Sachs: Great Investors, Eurie Kim, Managing Partner at Forerunner Ventures, speaks with Goldman Sachs’ Katie Koch, Chief Investment Officer of Public Equity in Goldman Sachs Asset Management, about the evolution of direct-to-consumer businesses, her investment philosophy and the dislocation between private and public market valuations. Learn more about your ad choices. Visit megaphone.fm/adchoices
Small businesses are the life blood of the U.S. economy and the backbone of local communities , but the current economic environment is proving especially challenging. At last week’s 10,000 Small Businesses Summit, more than 2,500 small businesses owners convened in Washington, D.C., to share their experiences and advocate for meaningful policy change. In the latest episode of Exchanges at Goldman Sachs, recorded at the summit, Asahi Pompey, president of Goldman Sachs Foundation, and Joe Wall, a...
In this episode of Exchanges at Goldman Sachs: Great Investors, Howard Marks, Co-Chairman of Oaktree Capital Management, speaks with Goldman Sachs’ Katie Koch, Chief Investment Officer of Public Equity in Goldman Sachs Asset Management, about his investment philosophy, his views on market cycles and why investing is the “discipline of relative selection.” Learn more about your ad choices. Visit megaphone.fm/adchoices
From geopolitical tensions, surging gas prices and energy shortages, how are major companies dealing with the energy transition? In the latest episode of Exchanges at Goldman Sachs, Giulia Chierchia, Executive Vice President of Strategy, Sustainability & Ventures at bp, and Michele Della Vigna, head of Natural Resources Research in EMEA for Goldman Sachs Research, discuss the impact of geopolitical tensions on global energy supplies and how major corporations are navigating the energy transition...
In this episode of Exchanges at Goldman Sachs: Great Investors, Sandra Horbach, co-head of US Buyout and Growth at The Carlyle Group, talks with Goldman Sachs’ Alison Mass, chairman of Goldman Sachs’ Investment Banking Division, about what it was like to be a trailblazer in the private equity space and the evolution of diversity in the industry. Learn more about your ad choices. Visit megaphone.fm/adchoices
