Biden's Federal Land Lease Ban To Send Oil Prices Higher: Goldman
Oil stocks tumbled following yesterday’s one-two punch of Biden energy news, when first we learned that the Interior Department enacted a 60-day moratorium on issuing oil and gas leases that affects all federal lands, minerals, and waters, which was followed by news that Biden was set to fully suspend the sale of oil and gas…
Goldman Sounds The Alarm On Stocks: When Euphoria Is This High, "It's A Good Time To Reduce Risk"
The past few months can best be characterized as a period of unprecedented market optimism and sheer euphoria, and we have done just that with several recent articles… … and so on. But whereas in the recent past, the euphoria was always bounded by the upper limit reached during the insatiable buying spree of the…
Here's What Joe Biden May Announce Tonight, According To Goldman
President-elect Biden is scheduled to speak at 7:15pm tonight to outline his “vaccination and economic rescue legislative package”. As we noted late last night, there are a number of media reports regarding the potential size and details of that package, which vary considerably, even though the market’s attention was drawn to the largest one for…
Goldman Warns Of "Short Term Indigestion" In Stocks, Expects European Double-Dip On Mutant Virus Surge
The global economy – or at least the US-Europe axis – is about to decouple according to Goldman. Just days after Goldman Sachs chief economist Jan Hatzius raised his US GDP forecast for 2021 from 3.9% to 6.4% on the back of expectations for much more aggressive stimulus rollouts from the Biden administration which Goldman…
Goldman: Buy Stocks Despite Dot Com Valuations
Record valuations that have now surpassed dot com levels? Check. Record investor euphoria that is now literally off the chart? Check. None of that is a concern for the investing “professionals” in Goldman’s $575 billion wealth management division, who say that despite the biggest asset bubble in history, US stocks are3 still the best game…
Goldman Expects Dems To Pass New $750BN Stimulus Next Month, Sending Economy Into Overdrive
Now that a “blue sweep” of Congress is reality, Wall Street has thrown out their existing market and economic forecasts and gone back to the drawing board to account for billions more in imminent stimulus. Not surprisingly, the first to publish a new and improved projection deck was Goldman which overnight said it had revised…
Goldman Now Sees Q1 GDP Surging 5% Thanks To $900BN Covid Stimulus
It was just one month ago when Wall Street’s best and brightest – which these days also means most clueless – personified in this case by JPMorgan’s chief economists, predicted that GDP in the first quarter of 2021 would contract by 1%, effectively putting the US on collision course with a double dip recession. Just…
Former Goldman CFO Calls For Universal Basic Income “To Stave Off Revolution”
By Tyler Durden Former Goldman Sachs CFO Marty Chavez thinks that income redistribution via Universal Basic Income (UBI) is the only way to stave off revolution as the wealth gap continues to increase. In an interview with The Business of Business, host Gregory Ugwi asked Chavez if he agrees with Rep. Alexandria Ocasio-Cortez (D-NY), who…
Goldman: Bitcoin & Gold "Can Coexist"
The last few weeks have seen a dramatic divergence in the fortunes of gold and bitcoin as a wide range of strategists and talking heads note that “there also seems to be an increasing demand to use Bitcoin where Gold used to be used to hedge Dollar risk, inflation and other things.” In recent weeks…
Former Goldman CFO Marty Chavez Calls For Universal Basic Income "To Stave Off Revolution"
Former Goldman Sachs CFO Marty Chavez thinks that income redistribution via Universal Basic Income (UBI) is the only way to stave off revolution as the wealth gap continues to increase. In an interview with The Business of Business, host Gregory Ugwi asked Chavez if he agrees with Rep. Alexandria Ocasio-Cortez (D-NY), who says “there should…
Goldman Upgrades Exxon To Buy For The First Time In Four Years As Cycle Begins To Turn
Just one day after Wells Fargo issued a rare upgrade on beaten down energy giant Exxon, late on Tuesday Goldman did what it hasn’t done since 2016, and it upgraded Exxon from Neutral to a Buy – just two months after it upgraded the major from a Sell – with a $52 price target given…
Goldman Now Thinks Virus Aid Will Pass This Week, But Will Be Last “Substantial” Package Unless Dems Win Georgia
Having flip-flopped once already, back in September capitulating on expectations for a fiscal stimulus this year (which earlier this year was the basis for the bank’s bullish outlook), Goldman has just flip-flopped again in its views on a covid stimulus deal, and moments ago Goldman’s chief political economist Alec Phillips just sent out a note…
Rihanna’s Fashion Label “Savage X Fenty” Partners With Goldman To Raise $100MM
Andrew Ross Sorkin’s DealBook newsletter just got a big ol’ scoop, and it has nothing to new with the closure of restaurants and other small businesses, or other claims about COVID-19 “science” (for reference, see his latest spat with colleague Rick Santelli, and this morning’s news about new evidence of deadlier strains in the UK)….
Goldman Sees More Chinese Bond Defaults
By Ye Xie, Bloomberg macro commentator President Donald Trump has continued bashing China. This time, his administration restricted travel visas for members of the Chinese Communist Party and banned cotton imports from a military-linked firm it accused of “slave labor.” So far, all of these moves, including the House bill that could lead to the delisting of…
Goldman Capitulates On “Major” Stimulus, Now Sees Just $700BN Fiscal Aid In Early 2021
Back on September 24, long after we repeatedly said that any hopes for another major stimulus before the election (and certainly after, absent a Democratic sweep) was nothing but a pipe dream, Goldman – which until that point had predicted that Congress would pass a $1.5-$2 trillion fiscal stimulus “shortly” – threw in the towel…
Goldman, Citi See Dollar Sliding In 2021, Plunging As Much As 20%
By Tyler Durden Wall Street’s latest top consensus trade for 2021 has quickly emerged as a dollar short. After Deutsche Bank flip-flopped on its view for the dollar, first closing out its long-running dollar short then reversing itself just days later and renewing its USD short , other banks have joined the bandwagon expecting a…
Goldman Pinpoints Temperature Below Which COVID-19 Outbreaks Start To Accelerate
In a recent note to clients, a team of researchers at Goldman Sachs took a close look at temperatures and studied whether there was a correlation with temperatures. Perhaps unsurprisingly, the team found a strong negative correlation between confirmed cases and temperature, with the number of the former going up while the number for the…
“The Market Could Flip Again”: Goldman Warns A “Blue Wave” May Still Be Coming
“Election Surprise!” That’s the start of David Kostin’s latest Weekly research report, in which he writes that while online polling markets ultimately correctly predicted the outcome of the presidential election (absent an unprecedented overturning by the Supreme Ciurt of an election that the MSM has already called on behalf of Biden), the polls were way…
Goldman Warns “Frenzied” SPAC Bubble May Be Ending
One of the remarkable stories of 2020, one which has sparked many comparisons to 2007 just before the credit/housing bubble popped, has been the record surge of blank-check, or SPAC, issuance where investors – at a loss what to invest in – hand their money to a marquee investor who promises to find an appropriate…