The Markets

Riding the AI Wave

Big Opportunities in Small Cap Equities

Small-cap stocks currently trade at a 25-30% discount relative to large-caps, positioning the sector for a robust earnings cycle driven by anticipated interest rate relief, increased M&A activity, and a revitalizing IPO market. While mega-cap tech dominates broader market sentiment, significant opportunities exist with...

Chase or Fade the Rally?

Big Tech Opportunity

Equity derivative markets are navigating a significant shift as geopolitical tensions in the Middle East show signs of a temporary reprieve through a two-week ceasefire. Lee Coppersmith, co-head of New York equity derivative sales at Goldman Sachs, observes that institutional investors entered this period heavily de-ri...

“I’d Rather Be a Bond”

"The Market Is Fragile"

Untangling Signals of Market Stress

New Worries

$120 Oil Ahead?

The discussion centers on the recent increase in oil prices following the Iran conflict and its potential impacts on the global oil market. Jerome Dortmans, co-head of global oil and products trading at Goldman Sachs, suggests the market's response has been subdued despite significant barrels being affected, estimating...

A New Way to Trade Emerging Markets

Emerging markets' strong performance, driven by substantial inflows and robust fundamentals, is the central topic. Despite China's lagging performance due to slow earnings growth and weak domestic demand, other regions like Korea, Taiwan, and Brazil are thriving. Stratford Dennis, head of emerging markets equities trad...

Tech Comeback Ahead?

Tech sector performance in 2026 has lagged the broader market, despite the persistent narrative surrounding generative AI advancements. While the sector continues to deliver best-in-class earnings and revenue growth, investors are currently navigating a transition from the initial AI "build cycle" toward a more complex...

“Still Bullish Gold”

The gold and silver markets and their recent volatility are analyzed with Lina Thomas, Senior Commodities Analyst at Goldman Sachs. The conversation centers on gold's potential rise to $5,400 by the end of 2026, driven by central bank buying and private investor interest amid Fed rate cuts and debasement fears. A key f...

Stock Market Shakeout

The conversation centers on recent volatility in the US equity market and key debates among investors. Shawn Tuteja, head of ETF and custom baskets volatility trading at Goldman Sachs, explains that despite the S\&P's modest gains, significant tensions exist beneath the surface, including whether the rally is broadenin...

Finding Opportunities in Financials

The financial sector's current state and future prospects are examined, with Christian DeGrasse, financial sector specialist at Goldman Sachs, providing insights. Despite constructive earnings reports from banks and a positive outlook on capital returns and loan growth, the financial sector faces pressure from the soft...

Long Gold and Long Stocks

The podcast explores the interplay of fiscal, credit, and monetary policies amidst a backdrop of global reindustrialization driven by AI. Anshul Sehgal, Global Co-Head of Fixed Income Currencies and Commodities at Goldman Sachs, suggests the US economy is shifting from financialization to industrialization, akin to the...

“A Massive Broadening Trade”

The conversation centers on market volatility, trade war fears, and the potential impact of bond market shifts on equities. Rich Privorotsky notes that markets have largely faded geopolitical risks, focusing instead on a pro-growth view leading up to the midterms. He suggests that recent market anxiety stems more from ...

Which Equity Markets Will Outperform?

The discussion centers on the outlook for U.S., European, and Asian markets in 2026, with Kunal Shah, co-CEO of Goldman Sachs International, providing insights. Shah suggests the U.S. still has tailwinds from easy financial conditions, AI-driven credit creation, and fading tariff drags, but cautions about high levels o...

Emerging Markets Could Keep Surging

Emerging market (EM) equities are positioned to be the strongest performing global risk assets over the next decade, with the MSCI EM index projected to return 15% in 2026. Stratford Dennis, head of emerging market equities at Goldman Sachs, identifies attractive valuations, a weakening U.S. dollar, and light investor ...

“We Like Bonds”

Are More Rate Cuts Coming?