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Goldman Sachs

This tag is associated with 69 posts

8 Jan 2020 (AFR) – Bushfires to hit economic growth: Goldman Sachs

(8 January 2020, AFR, p6, Matthew Cranston, Economics correspondent) ‘Economic growth will take a 0.3 percentage point hit over the December and January quarters due to Australia’s bushfire crisis, according to the latest analysis from Goldman Sachs. As the fires have raged, financial markets have priced in a higher chance of another 0.25 percentage point … Continue reading

7 Nov 2019 (AFR) – After a summer of panic, fears of a US recession ease a bit

(7 November 2019, AFR, p28, Heather Long) ‘The message from the markets, many experts, the latest economic data and top Federal Reserve officials is that recession risk has subsided. Somewhere around Halloween, the US economy started to look a bit less scary. Top US and Chinese officials are talking about a trade war truce. Many … Continue reading

20 Sept 2019 (TheAge) – Rate cut on cards to boost economy even as budget strengthens

(20 September 2019, The Age, p5, By Shane Wright and Eryk Bagshaw) ‘Interest rates could be cut to 0.75 per cent within a fortnight as unemployment ticks up and the economy struggles to shake itself out of its rut, despite the Morrison government delivering the best budget bottom line in a decade. Commonwealth Bank, JP … Continue reading

15 Feb 2019 (AFR) – Goldman Sachs downgrades outlook, pushes out RBA hike

(15 February 2019, AFR, p3, by Matthew Cranston and Natasha Gillezeau) ‘Goldman Sachs has downgraded its economic growth forecast and pushed out when it expects the Reserve Bank might hike interest rates because of weakening business surveys, falling house prices and global growth jitters. Goldman Sachs chief economist Andrew Boak said the outlook for the … Continue reading

18 Jan 2019 (AFR) – It’s official: Wall Street banks topped $US100 billion in profit

[COMMENT: Does this article tell us something about the state of health of the global economy? Or simply something about big banks? – say no more.] (18 January 2019, AFR, p22, by: Hannah Levitt, Max Abelson and Ben Foldy) ‘The six biggest United States banks have never had a $US100 billion year. Until now – … Continue reading

8 Jan 2019 (AFR) – Goldman sounds the China alarm and cuts metals outlook

(8 January 2019, AFR, p16, by Bloomberg News) ‘Goldman Sachs chopped back its near-term metals forecasts as China’s economy has “decelerated notably,” while balancing that outlook with a prediction mainland policy makers will respond by stoking expansion in the second half, aiding a revival in copper and aluminum. The bank — which had been consistently … Continue reading

21 Dec 2018 (AFR) – Fears about low household savings rate are overdone: Goldman Sachs

(21 December 2018, AFR, p12, by Tim Boyd) ‘Goldman Sachs disagrees Australia’s savings rate has fallen to an unsustainable level, arguing the decline in the national savings rate indicates households are running down their funds to spend and should be viewed as a sign of confidence. “Fears about a low household savings rate are overdone,” … Continue reading

7 Sept 2018 (AFR) – ASX darling valuations in ‘uncharted territory’: Goldmans

(7 September 2018, AFR, p17, by Sarah Turner) ‘Goldman Sachs has rung the alarm bell on valuations of some of Australia’s high flying market darlings as investors fret about contagion from the volatility roiling emerging markets.  Australian stocks suffered their biggest one-day fall since March, falling victim to a sell-off that swept across Asian markets as … Continue reading

21 Aug 2018 (AFR) – Expensive stocks are only getting more expensive, GS says

(21 August 2018, AFR, p33, by: Vesna Poljak, Sarah Turner) ‘The annual reporting season has been a highly successful one for the market’s most expensive stocks, which are being elevated to even higher multiples on results that are just OK. Goldman Sachs equity strategist Matthew Ross finds that with 37 per cent of the market … Continue reading

2 Aug 2018 (AFR) – Chinese steel production reaches record high on robust demand

(2 August 2018, AFR, p26, by Bloomberg News) ‘Shanghai | China’s steelmakers are smashing production records by pushing furnaces beyond their typical limits, offsetting nationwide closures that may be even more swingeing than government estimates, according to Goldman Sachs. The world’s top producer has trumpeted sweeping reforms in the past two years that have shuttered … Continue reading

19 July 2018 (AFR) – Is Lloyd Blankfein’s departure a sign of a doom ahead?

(19 July 2018, AFR, p28, by Karen Maley) ‘Lloyd Blankfein’s decision to step down after 12 years at the helm of US investment banking giant Goldman Sachs has sent shivers down the spines of many investors who fear it could portend a period of share market turmoil. After all, the perspicacious Blankfein has a track … Continue reading

27 Oct 2017 (AFR) – When will this rally end: Investors ask the most common question on Wall Street

(27 October 2017, AFR, p31, by Philip Baker) ‘The S&P 500 is now deep into it’s ninth year of gains, and after 50 record highs so far this calender year it’s probably not surprising that Goldman Sachs equity strategist David Kostin says the most common question on Wall Street right now is: “When will this … Continue reading

16 Oct 2017 (AFR) – What Goldman Sachs CEO Lloyd Blankfein told Scott Morrison

(16 October 2017, AFR, p4, by John Kehoe) ‘When Treasurer Scott Morrison met Goldman Sachs chief executive Lloyd Blankfein in New York late last week, the Wall Street banker was baffled. Blankfein was searching for answers. Why, at a time when most economies were generally performing reasonably, had politics become so difficult in many countries? … Continue reading

14 Oct 2017 (AFR) – Investment banks offering investors way to bet on new banking crisis

[COMMENT: Over the decades, various “banks” in some countries have managed to find new and innovative ways to work around legislation to offer various financial products to customers, where the sole purpose sometimes appears to be to make money for the bank. Is this just another one of those?] (14 October 2017, AFR, p32, by … Continue reading

10 June 2017 (CNBC) – Apple, Facebook and other big tech stocks tank, weigh on Wall Street

(10 June 2017, CNBC online, Patti Domm) ‘Big tech was slammed Friday as investors took profits from the group, which some fear has become a massive market bubble. The sell-off accelerated in afternoon trading, with the Nasdaq falling 2.4 percent, and names like Facebook and Apple, down 4 percent. The S&P tech sector was down … Continue reading

9 June 2017 (AFR) – The Masters of the Universe Bill Gross, Paul Singer are worried it’s 2008 all over again

(9 June 2017, AFR, p31, by James Thomson) ‘The Masters of the Universe are getting nervous, and there’s one big thing on their mind: the return of GFC-like conditions. While Morgan Stanley’s chairman and chief executive James Gorman provided an upbeat assessment of the world economy in an exclusive interview with The Australian Financial Review … Continue reading

19 Apr 2017 (TheAge) – High hopes for US earnings season but markets may stall

(19 April 2017, The Age, BusinessDay, p29, Myriam Robin) ‘Analysts and fund managers expect the upcoming US quarterly earnings season to be the strongest in some years, but with US equities already trading at highly elevated levels, few expect the strong results to translate into higher sharemarket growth. Expectations for the US earnings season are … Continue reading

8 Feb 2017 (AFR) – Recovery coming despite Trump, not because of him; AFR Business Summit speaker Jim O’Neill says that the world economy is very resilient

(8 February 2017, AFR, p39, by Jim O’Neill) ‘Disconcerting political developments in the United States and Britain might lead one to conclude that an already challenged world economy will struggle even more in the near term. But as we continue into 2017, the cyclical evidence actually suggests otherwise. Since my days as chief economist at … Continue reading

8 Feb 2017 (AFR) – Economists deeply divided over Australia’s economic path in 2017

[COMMENT: Okay, so who will be right with this crystal-ball gazing?] (8 February 2017, AFR, p6, by Jens Meyer) ‘At the start of the year economists seem more divided than ever over Australia’s growth outlook. Will 2017 be a year of economic stagnation warranting more Reserve Bank of Australia rate cuts or will growth pick … Continue reading

3 Feb 2017 (AFR) – Trump tariffs to set back trade to post-World War II levels: Goldman Sachs

(3 February 2017, AFR, p21, by Jonathan Shapiro) ‘Global trade conditions would be set back to levels not seen for 70 years if US President Donald Trump delivers on his campaign promise to impose 45 per cent tariffs on Chinese imports and 35 per cent on Mexican imports, says a leading Goldman Sachs economist. “If we … Continue reading

22 Nov 2016 (TheAge) – Upside risk for the Aussie: Goldman turns bullish on economy

(22 November 2016, The Age, BusinessDay, p25, Jens Meyer) ‘The Aussie dollar may have fallen steeply over the past 12 days but Goldman Sachs reckons the currency is set for a rebound that could possibly take it over the US80¢ level if commodity prices sustain some of their recent strong gains. In a surprisingly upbeat … Continue reading

28 June 2016 (AFR) – Goldman Sachs economists tip mild UK recession

(28 June 2016, AFR, p11, AAP) ‘Britain is likely to enter a recession within the year as a result of last week’s vote to leave the European Union, a decision that will stunt global economic growth as well, Goldman Sachs’ top economists say. “We now expect the (British) economy to enter a mild recession by … Continue reading

21 June 2016 (AFR) – Canada killing the oil rally – Oil rally runs out of steam as Canadian wildfire threat fades

(21 June 2016, AFR, p31, by Mark Shenk) ‘Here comes Canadian oil to douse the hottest rally since 2009. Money managers reduced bets on rising oil prices by the most in 11 months as Canadian output continued to ramp up after Alberta’s wildfires. The recovery in oil prices remains “fragile” as disrupted supplies return to the … Continue reading

21 Apr 2016 (TheAge,SMH) – GSAM survey: Insurers predict equities losses for 2016

(21 April 2016, The Age, BusinessDay, p25, Ruth Liew , Reporter, View more articles from Ruth Liew) ‘Credit spreads will widen, the number of company defaults will increase and the benchmark US S&P 500 index will fall – triggering billions of dollars in losses during 2016. Those are the predictions of 276 global insurers, which number among … Continue reading

14 Apr 2016 (AFR) – Quarter of Nickel Miners Seen Battling to Survive in Price Rout

(14 April 2016, AFR, p10, by Joe Deaux) ‘A quarter of the world’s nickel miners are caught in a game of chicken, churning out the stainless steel ingredient at a loss in the hope that competitors will shut first, according to research firm IHS. The price of nickel slumped 30 per cent in the past year, … Continue reading

13 Apr 2016 (AFR) – Goldman Sachs pays $7b for role in global financial crisis

(13 April 2016, AFR, p12, by Kevin McCoy) ‘Goldman Sachs knew about risks in mortgage-backed securities but didn’t disclose the issues to investors during the lead-up to the US financial crisis, according to a $US5.06 billion ($6.7 billion) regulatory settlement. The investment bank acknowledged it marketed and sold tens of billions of dollars in residential mortgage-backed … Continue reading

3 Mar 2016 (AFR) – Miners can’t stop digging themselves into a rout: Goldman Sachs

(3 March 2016, AFR, p35, by Stephen Cauchi) ‘The commodities rout is set to continue, says a new report from Goldman Sachs, because the mining industry is unable to stop itself from digging. The paper, The best way to get out of a hole is to stop digging, said oversupply and a failure to close mines had … Continue reading

26 Feb 2016 (AFR,SMH) – Days of continuous dividend growth over – Earnings growth to outpace dividends for the first time in five years

(26 February 2016, AFR, p29, Vanessa Desloires, Reporter, View more articles from Vanessa Desloires) ‘The slashing in dividends by the big miners and flat payouts from the banks mean earnings per share growth is set to outpace dividend per share growth for the first time in five years.  Goldman Sachs equity strategist Matthew Ross said according … Continue reading

10 Feb 2016 (AFR) – Goldman Sachs talks down recession risks, sees opportunities

(10 February 2016, AFR, p32, by Vanessa Desloires) ‘Goldman Sachs has poured cold water on the recession fear gripping global markets, but the negativity is presenting plenty of opportunity for value hunters.  Jan Hatzius, chief economist at the New York-based investment bank, said financial markets are pricing in a high probability that developed markets are heading to … Continue reading

20 Jan 2016 (AFR) – Stung investors still rate miners to recover – Mining valuations sky high as investors hope for recovery

(20 January 2016, AFR, p29, by Vanessa Desloires) ‘Shares in mining companies have been summarily dumped by investors this year amid spiralling commodity prices, but their valuations remain sky high, suggesting investors are pricing in a recovery, Goldman Sachs says. ‘ <snipped…> ‘But the price-to-earnings multiples for the mining sector are at a 57 per cent premium to its historical … Continue reading