The Markets

Climbing the “wall of worry”

European opportunities

In this episode of The Markets, Chris Hussey interviews John Storey from Goldman Sachs about the European equity market and investment strategies. They discuss the outperformance of European stocks, particularly financials, relative to U.S. tech, and the impact of currency movements and fiscal policies. Storey highligh...

Staying long US assets

In this episode of "The Markets," Chris Hussey interviews Ashok Varadhan, co-head of Global Banking and Markets at Goldman Sachs, about recent economic data and market trends. They discuss the benign inflation data, the impact of tariffs, and the possibility of a recession, with Ashok suggesting that a recession is unl...

“This is what people were hoping for”

Why emerging markets could keep rallying

Mike Washington interviews Stratford Dennis, head of emerging market equities at Goldman Sachs, about the recent rally in emerging market equities. Dennis attributes the rally to positive growth differentials, a weaker dollar, and a stable S&P 500. He predicts a 10% upside rally in the MSCI EM index by year-end, citin...

Fade the S&P 500 rally?

In this episode of The Markets, Chris Hussey interviews Brian Garrett from Goldman Sachs about the current state of the equity market. Garrett suggests fading the recent S&P rally, noting systematic demand is waning and fundamental buyers are positioned lower. A recent investor survey revealed a decreased concern about...

Why tech stocks could keep rallying

This episode explores the recent rally in technology stocks after a significant downturn earlier in the year. Against the backdrop of a 15-20% drop in the Nasdaq, the conversation analyzes the factors contributing to the market's resurgence. More significantly, the discussion highlights three key elements: upbeat ear...

“Long stocks, short bonds”

Time to buy bonds?

This episode explores the impact of tariffs on interest rates and credit markets, featuring an interview with Lindsay Rosner, head of multi-sector investing at Goldman Sachs Asset Management. Against the backdrop of the Federal Reserve's rate cuts, the discussion notes that 10-year Treasury yields remained unchanged, ...

“The most attractive hedge”

Opportunities amidst historic volatility

This episode explores the impact of policy shifts and trade tariffs on global markets. Against the backdrop of recent market volatility, Josh Schiffrin, Chief Strategy Officer and Head of Financial Risk at Goldman Sachs, discusses the inflationary and growth implications of tariffs, suggesting it's a combination of bot...

Tariffs could spark “a new rotation” in US equities

This episode explores the market's reaction to Trump's announced reciprocal tariffs. Against the backdrop of previous tariff threats with little action, the market initially showed complacency, with investors expecting a 9-10% average effective tariff rate. More significantly, the actual announcement of a low 20% rate...

Can US equities rally again?

This episode explores the current state of the US equity market amidst heightened uncertainty and recent market volatility. Against the backdrop of a 10% market drop and new tariff announcements, Goldman Sachs' John Flood discusses the lack of a clear market bottom due to ongoing administrative uncertainty. More sign...

Bonds or Stocks: The 2025 Income Play

“The US is still the place to be”

Buy the dip in US equities?

This podcast episode discusses market volatility and uncertainty, focusing on recent economic data (payrolls and ISM) and their impact on US and European equities. The interview covers the jittery market conditions, attributing them to policy uncertainty in the US (spending cuts and trade barriers) and the derating of...

Is the US consumer in trouble?

This podcast episode discusses weakening US consumer confidence and its impact on the market. The hosts analyze consumer sentiment surveys showing significant month-on-month drops and discuss earnings reports from various companies indicating a slower start to the first quarter. They attribute this slowdown to uncert...

Why gold could rise even higher

The 1982 playbook

This podcast episode discusses the January CPI report and its implications for the markets, focusing on the interplay between inflation, government policies, and the Federal Reserve's actions. The discussion analyzes the market's reaction to the CPI data, considering factors like bond auctions and the potential impact...

Finding opportunities in a “trickier” market