As the implications of coronavirus reverberate across markets, industries and the global economy, we’ve launched a daily video series to highlight the latest insights from Goldman Sachs experts around the world, recorded from wherever they are working.
The ESG Case for E-Commerce
Derek Bingham of Goldman Sachs Research discusses the key ESG challenges of rapidly increasing e-commerce and how companies and investors are addressing these issues.
Behind the Numbers: Goldman Sachs’ CFO on Second Quarter Earnings Results
Stephen Scherr, Goldman Sachs’ Chief Financial Officer, discusses the firm’s second quarter earnings results, why he’s confident in the durability of that performance across businesses, and key themes to watch in the second half of 2021.
At the Half: Taking Stock of Market Performance and Themes to Watch Ahead
John Storey, head of Goldman Sachs’ equities franchise in EMEA, takes stock of market performance over the first half of the year, and discusses themes that will be top of mind for investors through the rest of 2021.
Europe in Vogue: What’s Driving Stronger Flows into European Equity
Mutual fund flows into European stocks year-to-date are the strongest since 2015. Goldman Sachs Research’s Sharon Bell explains the factors driving investor interest.
Market Themes on the Minds of European Investors
Kene Ejikeme of Goldman Sachs Global Markets discusses the key themes European investors are watching—from the impact of fiscal policy on markets to the “reopening theme”—and how Europe is poised to benefit from a global recovery.
Biotech and the Transition from Pandemic to Endemic
Chris Shibutani, senior biotechnology analyst in Goldman Sachs Research, discusses the transition from a Covid-19 pandemic to an endemic, and how biotech companies are preparing for the next stage of vaccines and therapeutics.
Unicorns and Soonicorns: What’s Driving Significant Growth in European Tech
Clif Marriott, co-head of Goldman Sachs’ Technology, Media and Telecom Group in EMEA, discusses what the growing scale and breadth of European tech companies—along with bolder ambitions from European tech founders to grow their businesses to multi-billion dollar valuations—means for the European tech landscape.
How Companies Are Accelerating the Transition to Clean Energy
Goldman Sachs’ Jessica Katz, a portfolio manager in the Asset Management business, explains how companies are harnessing hydrogen, solar, battery storage and carbon capture to accelerate the transition to net-zero emissions.
Charging Up Electric Vehicle Battery Production Across EMEA
The surge in electric vehicle sales is charging up the battery market in Europe, explains Michael Bruun, who invests in companies focused on sustainability for Goldman Sachs Asset Management.
Activism Activity on the Rise
Levels of shareholder activism activity are at an all-time high. Avinash Mehrotra, global head of Activism and Shareholder Advisory and Takeover Defense practices in the Investment Banking Division, explains what’s driving an influx of non-dedicated or “occasional” activist campaigns and the implications for corporates.
A “Superbloom” in M&A and Separation Activity
David Dubner, global head of M&A structuring in the Investment Banking Division, discusses what’s driving a “superbloom” of corporate M&A and separation activity as management teams assess and reimagine their businesses as the US emerges from the pandemic.
What’s Next for Central Bank Digital Currencies
Goldman Sachs Research’s David Mericle, chief US economist, discusses why central banks are considering digital currencies and the potential implications for the financial system and monetary and fiscal policy.
Commercial Real Estate and the Economic Recovery
Caitlin Burrows of Goldman Sachs Research discusses the outlook for office, retail and industrial real estate as the U.S. emerges from the pandemic and malls confront the rise of e-commerce.
China’s Path to Carbon Neutral: Addressing the Upstream
Trina Chen, co-head of Goldman Sachs’ China Equity Research, discusses China’s plan to reduce emissions from its upstream commodity sectors—which account for more than 10% of the world’s emissions—as part of the country’s pledge to be carbon neutral by 2060.
Investing in the Great Outdoors
As consumers spend more on outdoor leisure activities, which sectors are poised to benefit? Daphne Robbins of the Asset Management Division describes why boating, camping, biking and other outdoor pursuits are likely to gain from secular tailwinds.
Arriving Now: Retailers’ Solutions for Same Day Delivery
To meet the increase in customer demand for same-day delivery, a variety of big-box retailers are expanding their last-mile delivery solutions. Kate McShane of Goldman Sachs Research discusses how third-party fulfillment providers are playing an important role in addressing same-day needs, as well as the challenges that stem from outsourcing delivery.
The Changing Landscape of ESG Regulation in Europe
Evan Tylenda of Goldman Sachs Research discusses the significance of the European Sustainable Finance Disclosure Regulation and how it, along with the EU Sustainable Taxonomy, will change the way asset managers classify ESG funds.
The Rising Power of China’s New Consumer Class
With private consumption set to double to $13 trillion by 2030, Goldman Sachs’ Stephanie Hui explains how China’s consumer spending habits are evolving in The Daily Check-In.
How the Transportation Sector’s Recovery Is Shaping Investment Opportunities
Increased activity in the transportation sector is creating new investment opportunities across the airline, trucking and shipping industries, explains Goldman Sachs’ Kevin Martens, a portfolio manager in the Asset Management Division.
From Growth to Value: Where We Are in the Equity Markets
Lou Miller of Goldman Sachs’ Global Markets explains what’s driving the equity market rotation from growth to value, which sectors are benefiting, and how long the trade may continue.
Real Estate’s Road to Recovery
As the U.S. economy recovers from the pandemic, investors could face long-term changes in the real estate sector, explains Goldman Sachs’ Nora Creedon of the Asset Management Division.
Central Banks and the Fight Against Climate Change
Goldman Sachs’ Gurpreet Gill, a macro strategist in the Asset Management Division, explains how developed market central banks are using monetary policies to address climate change and social inequality.
The Oil & Gas Industry’s Transformation
Michele Della Vigna, head of EMEA natural resources equity research, discusses his Top Projects 2021 report, which is the 18th edition of Goldman Sachs’ annual review of top assets in global oil and gas production.
The Rise of Sports Gambling in the US
Stephen Grambling of Goldman Sachs Research discusses the rise of sports gambling in the US and why the sector represents one of the largest growth opportunities over the next 10 years.
Australia’s Macro Outlook and Monetary Policy
Andrew Boak of Goldman Sachs Research discusses his latest research on Australia’s macro backdrop and monetary policy, including how its central bank could set the first modern-day precedent for exiting yield curve control.
Supply Chain Strain
Eduard van Wyk, co-head of Industrials Investment Banking in EMEA, discusses challenges to supply chains around the world and implications for the global flow of goods.
Investing in Nature-Based Solutions
Goldman Sachs Asset Management’s Lisa Williams explains how nature-based investments like Apple’s Restore Fund can reduce carbon emissions while generating financial returns.
Goldman Sachs’ First Quarter 2021 Earnings
Stephen Scherr, Goldman Sachs’ Chief Financial Officer, discusses the firm’s first quarter earnings results and what’s driving his confidence in the firm’s ability to execute on its long-term strategy.
The Evolution of ESG Financing
Jonny Fine of Goldman Sachs’ Investment Banking Division discusses the evolution of ESG financing and what is driving the significant rise in corporate issuance.
The Rise of Thematic ETFs
Jessica Binder Graham, co-head of European Equity Research for Goldman Sachs Research, discusses her team’s research on the growth of the ETF market, including the rapid rise of thematic ETFs and how investors are thinking about single stock exposure.
The Four Megatrends Shaping Retail Investing
Fadi Abuali, CEO of Goldman Sachs Asset Management International, explains the four megatrends that Goldman Sachs Asset Management is focused on in the retail investing space.
The Outlook for China’s Beauty Sector
Christine Cho, equity analyst for Goldman Sachs Research, discusses the resilience of the Chinese beauty market and her outlook for record consumption in 2021.
What Europe’s Reopening Means for Economic Growth
Jari Stehn, the firm’s chief European economist, discusses the economic implications of Europe’s reopening, including which regions and sectors are poised to rebound the fastest.
The Resiliency of the Muni Market
More than a year into the pandemic, the outlook for the municipal bond market has remained favorable, explains Sylvia Yeh, co-head of Goldman Sachs Asset Management’s Municipal Fixed Income business in The Daily Check-In.
One Year Since Market Trough: A Cycle on Fast-Forward
Goldman Sachs Research’s Kamakshya Trivedi, co-head of global foreign exchange, interest rates and emerging markets strategy research, discusses the speed of the recovery since markets hit bottom one year ago and his outlook for strong global growth in 2021 and beyond.
The New Tech Investing Landscape
Amid the latest tech sell-off, investors can find opportunities beyond the mega-cap tech names, explains Asset Management Division’s Brook Dane.
The Beginning of a Structural Bull Market for Commodities
Damien Courvalin, head of Energy within the Commodities Research team for Goldman Sachs Research, discusses his team’s latest outlook for commodities and why they’re raising their returns forecasts.
The Semiconductor Shortage of 2021
Tammy Kiely, co-head of Technology Investment Banking, discusses how the world is currently experiencing a shortage of semiconductors, the causes of that shortage, and the implications for global manufacturing.
Investing in High Yield Bonds and Bank Loans
Rising interest rates are boosting investor interest in bank loans, explains Asset Management Division’s Lori Pomerantz in The Daily Check-In.
The End is Near: Understanding the Transition from LIBOR
Jason Granet, head of Goldman Sachs’ LIBOR transition effort, discusses the recent announcements on the timeline for LIBOR’s cessation and how investors are thinking about the move to other benchmark rates.
The Future of Auto Tech
Chris Buddin, co-head of Auto Tech Banking at Goldman Sachs, discusses what he calls “the greatest industrial revolution of our time”—the transformation to electrification in the global mobility landscape over the next several decades and the strategic activity happening in the auto tech industry today.
Rising Yields, Inflation and Risk Assets
Mike Swell, head of Global Portfolio Management within the Global Fixed Income team in Goldman Sachs Asset Management, explains the implications of rising bond yields on risk assets.
The Active Private Equity Landscape in Europe
Anna Skoglund of Goldman Sachs’ Investment Banking Division discusses the 25% increase in private equity deal volumes year-over-year, the types of deals and sectors driving this activity, and what the supportive capital markets backdrop means for investing at current valuations.
How the Pandemic is Reshaping Education
Katherine Tait, an equity analyst for Media and Education in Goldman Sachs Research, talks about the future of education and what we’re learning from the disruption of COVID-19.
What to Expect At China’s ‘Two Sessions’
Hui Shan, chief China economist for Goldman Sachs Research, looks at what to expect at China’s upcoming political gatherings, known informally known as the “Two Sessions.”
The Future of ESG Finance
Carey Halio, Deputy Treasurer of Goldman Sachs, discusses the firm’s $800 million sustainability bond and how Goldman Sachs is responding to demand for investment opportunities related to climate transition and inclusive growth.
The Return of Stock Buybacks
The Global Markets Division’s Neil Kearns explains why companies are resuming their share repurchase programs—and what that means for markets and investors.
China Net Zero: The Clean Tech Revolution
Sharmini Chetwode, head of ESG Research in Asia for Goldman Sachs Research, discusses China’s pledge to be carbon neutral by 2060 and the key technologies that will be critical to achieving this target.
The ‘Equitization’ of the Credit Markets
William Wolcott of the Global Markets Division explains how the advent of credit ETFs have shaped fixed-income markets.
Silver’s Retail Rally
Sarah Kiernan of Goldman Sachs’ Global Markets Division explains how recent retail-investing activity played out in the silver market, and how investors are thinking about silver over the longer term.
What’s Behind the Surge in Small-Cap Stocks?
Sally Pope Davis of Goldman Sachs’ Asset Management Division explains the factors driving the outperformance in small cap and value stocks.
Equity Volumes, Volatility and ‘Skew’ in the Markets
Moran Forman of the Global Markets Division explains how the surge in retail trading has changed supply-and-demand dynamics in equity volumes, volatility and options activity.
What’s on the Minds of Institutional Investors
Oscar Ostlund, head of content at Marquee in our Global Markets Division, discusses the latest polling of our institutional clients and how they’re thinking about retail investing, vaccine rollout, and interest rates.
Europe’s Digital Economy at a Tipping Point
Lisa Yang, head of the European Media and Internet Research team in Goldman Sachs Research, discusses her recent report on the acceleration of Europe’s digital economy and the emergence of European digital champions.
What’s Ahead for Growth Equity and Technology Investing
Asset Management Division’s Nishi Somaiya explains the outlook for private investments in growth equity and technology companies.
What’s the Outlook for Retirement Savers in 2021?
Goldman Sachs Asset Management Pension Strategist Mike Moran discusses the impact of rising rates, volatility and policy on corporate pension plans and retirement accounts.
The Cruise Line Industry: Staying Afloat During Crisis
Greg Lee of Goldman Sachs’ Investment Banking Division explains how cruise lines are navigating the unprecedented financial challenges of the pandemic and what the future of cruise line travel could look like.
China’s New Digital Currency Initiative
Andrew Tilton, chief Asia economist for Goldman Sachs Research, talks about China's new digital currency initiative and its potential implications for consumers, banks and the Chinese economy.
The Evolution of the Online Food Delivery Industry
Heath Terry, Goldman Sachs Research’s business unit leader for the Technology, Media and Telecom Group, discusses the surge in demand for food delivery during the pandemic and the outlook for the industry beyond it.
The Outlook for Vaccine Distribution and Global Growth
Goldman Sachs Senior Economist Daan Struyven discusses the slow start to the COVID-19 vaccine rollout, why he expects bottlenecks to clear, and how vaccination factors into his team’s above-consensus global growth forecast for the year.
Measuring the Reopening of Lodging, Leisure and Gaming
The lodging, leisure and gaming industries have been hit hard by the pandemic. Goldman Sachs Research’s Stephen Grambling looks at the momentum behind their recovery.
The Challenges Behind the COVID-19 Vaccines Rollout
Goldman Sachs Research’s Veronika Dubajova explains the challenges behind the COVID-19 vaccination efforts, including administration logistics and supply constraints.
How Investors Are Preparing for Rising Inflation
Louis Miller of the Global Markets Division explains why—and how—investors are preparing for an environment of rising inflation in this episode of The Daily Check-In.
Convenience Stores on the Rise
Bonnie Herzog, a senior analyst covering the beverage and tobacco sectors at Goldman Sachs Research, discusses how U.S. convenience stores are thriving by adapting to a changing retail landscape and taking advantage of their near-ubiquitous footprint.
Oil Equities in 2021
Brian Singer, head of the Energy & Utilities business unit in Americas Equity Research for Goldman Sachs Research, shares takeaways from the firm’s annual Global Energy Conference and his team’s outlook for oil equities in 2021.
Investing in China: Key Themes to Watch
Christina Ma, head of Greater China Equities for Goldman Sachs’ Global Markets Division, talks about the key themes on institutional investors’ minds going into 2021, including how they’re thinking about investing in China.
How Investors Are Thinking About Portfolio Strategies for 2021
Nicole Pullen Ross, region head of Goldman Sachs’ New York Private Wealth Management business, talks about the investing themes she’s discussing with her clients going into the new year.
What’s Driving the Latest Wave of IPOs?
Jane Dunlevie, co-head of Global Internet Investment Banking, talks about what is driving the latest wave in IPOs and what’s ahead for the IPO market in 2021.
2021 Credit Market Outlook
Lotfi Karoui, chief credit strategist for Goldman Sachs Research, talks about his team’s credit outlook for 2021, across both the corporate and consumer markets.
A Record Year In Corporate Financing
Yasmine Coupal, co-head of the West Coast Financing Group in the firm’s Investment Banking Division, looks back on a record-setting year in corporate debt issuance and what it means for the years ahead.
ESG Roadmap: The Utilities Sector
Sandra Lawson, head of Sustain Strategy within Goldman Sachs Research, talks about her team’s recent report on ESG within the Utilities sector.
Why Investors Are Optimistic About 2021
Earl Hunt of Goldman Sachs’ Global Markets Division talks about the conversations he’s having with institutional investor clients right now and why market sentiment is bullish going into 2021.
A Vaccine-Led Recovery
Goldman Sachs Research’s Dominic Wilson explains what the latest news on vaccines means for global markets and economic growth.
The Surge in Global Biotech Innovation
Goldman Sachs’ Jerry Lee explains the surge in innovation, M&A and cross-border cooperation in the global biotech and pharmaceutical sectors.
ESG Passes the Stress Test
John Goldstein, head of Goldman Sachs’ Sustainable Finance Group, explains how ESG passed its “stress test” in a difficult year resulting in strong performance and investor flows.
US Holiday Retail Outlook
Kate McShane of Goldman Sachs Research talks about how the pandemic has changed consumer spending habits and what it all means for the US retail market this holiday season.
How Technology is Disrupting the Insurance Industry
Kelly Galanis, head of the Americas Financial Technology sector in the Investment Banking Division, explains how insurtechs are disrupting the insurance industry.
What’s Next for the U.S. Dollar
Ricardo Mora, co-head of Americas FICC Sales, explains the factors driving the weaker U.S. dollar and how the currency stacks up against other major developed and emerging market currencies.
Carbonomics: The Green Engine of Economic Recovery
Michele Della Vigna, the Commodity Equity business unit leader in EMEA, shares takeaways from Goldman Sachs Research’s virtual Carbonomics conference.
November QuickPoll Survey: Views on the Market Rally, Fiscal Stimulus and Vaccine
Oscar Ostlund, head of content for Marquee in Goldman Sachs’ Global Markets Division, explains the latest findings from the firm’s survey of institutional clients in the wake of the US elections and promising vaccine developments.
The Equity Duration Puzzle
With bond yields closer to zero, equities appear more attractive than ever. But higher absolute valuations, boosted by tech growth stocks, have made equities more risky. Christian Mueller-Glissmann of Goldman Sachs Research explains the new “equity duration puzzle.”
What’s Next for Brazil
Goldman Sachs’ Maria Silvia Bastos Marques discusses the business and economic landscape in Brazil and how developments in fintech have the potential to reshape Brazil’s economy.
The ‘Make in India’ Initiative
Pulkit Patni, an equity analyst in Goldman Sachs Research, discusses how the pandemic and rising geopolitical tensions are spurring India’s renewed focus on self-reliance under its “Make in India” initiative.
Europe’s Slowing Economic Recovery
Silvia Ardagna, a managing director in Goldman Sachs’ Investment Strategy Group, discusses the state of Europe’s economic recovery and her group’s recommendation for investors.
Womenomics: Europe Moving Ahead
Sharon Bell of Goldman Sachs Research provides an update on gender equity in the workforce and why Europe is moving ahead of the US when it comes to harnessing the power of women in the economy.
What’s on the Minds of CIOs
Paget MacColl, co-head of Goldman Sachs Asset Management’s Americas Institutional Client Business, discusses how chief investment officers are managing global portfolios through market volatility and an uncertain economic environment.
Volatility in the Currency Market
Zach Pandl, co-head of Global Foreign Exchange, Interest Rates and Emerging Markets Strategy for Goldman Sachs Research, discusses macroeconomic risks on the minds of investors, including currency volatility and the low interest rate environment.
Goldman Sachs’ Third-Quarter 2020 Earnings
Stephen Scherr, Goldman Sachs’ Chief Financial Officer, explains how the firm’s work for clients is reflected in third-quarter earnings results.
What’s Next for the Business of Sports
Dave Dase, head of Goldman Sachs’ Investment Banking Division's Southeast Region, discusses the impact of the pandemic on professional and college sports.
The Private Equity Landscape
Sarah-Marie Martin, a managing director in the Financial and Strategic Investors Group within Goldman Sachs’ Investment Banking Division, discusses the drivers behind the exponential growth in private capital and why the private equity landscape provides such an interesting lens into investing right now.
The Implications of Rising Inflation
Ben Snider, senior strategist on the US Portfolio Strategy macro team for Goldman Sachs Research, discusses the prospect of rising inflation as a potential headwind for equities.
Thematic Growth Opportunities
Luke Barrs, head of Fundamental Equity Client Portfolio Management in EMEA and Asia ex-Japan for Goldman Sachs Asset Management, discusses the rise of thematic investing across the European and Asian fund landscape and the long-term secular trends investors are focused on.
The Acceleration of Impact Investing
Taylor Jordan, a managing director in the Alternative Investments & Manager Selection (AIMS) Group for Goldman Sachs, discusses how impact investing has evolved during the pandemic.
The Rise of Sustainable Consumerism
Kathy Elsesser, global chair of the Healthcare Group and the Consumer and Retail Group in the Investment Banking Division, explains how sustainable brands are reshaping the consumer landscape.
The Landscape for German Corporates
Michael Schmitz, co-head of the Global Markets Division for Germany and Austria, shares what was top of mind for clients at this year’s annual German Corporate Conference and how German equities have continued to outperform despite the macroeconomic backdrop.
Accessing China’s Bond Market
James Houghton, co-head of the Asia Pacific FICC Franchise for Goldman Sachs’ Global Markets Division, discusses the significance of the FTSE Russell’s inclusion of Chinese bonds in its World Government Bond Index and what this could mean for capital inflows into China.
The Beverage Industry and the Economic Shutdown
Vanya Kasanof of the Investment Banking Division’s Consumer and Retail Group discusses trends in consumer behavior during the pandemic and strategic activity across the alcoholic beverage industry.
Investing in Environmental Progress
Alexis Deladerrière, head of International Developed Markets Equity for Goldman Sachs Asset Management’s Fundamental Equity team, discusses the structural tailwinds that are making environmental solutions providers attractive investments for the long term.
The Future of Airline Travel
Greg Lee of Goldman Sachs’ Investment Banking Division explains how the airline industry is weathering the pandemic and what the future of airline travel could look like.
Measuring the Equity Risk Premium
Lilia Peytavin, equity strategist on Goldman Sachs Research’s European Portfolio Strategy team, discusses the equity risk premium and what it reveals about the attractiveness of equities relative to bonds.
The Fintech Revolution
Jeff Gido, global head of the Financial Technology sector in Goldman Sachs’ Investment Banking Division, looks at the industry’s transformation over the past decade and how companies today are thinking about strategic activity.
From Abenomics to Suganomics: What’s Next for Japan
As Japan’s new prime minister takes office, what are the implications for economic policy and corporate governance reform? Kathy Matsui, chief Japan equity strategist for Goldman Sachs Research, weighs in.
September QuickPoll Survey: Market Views
Anne Marie Darling, head of the Multi-Asset Platform team, Global FICC Execution Services and Marquee, shares insights on the firm’s latest survey of its institutional clients including their market sentiment, views on the US dollar and technology stocks.
Edtech Faces the Test
Adam Nordin, head of the Global Education Technology & Services team within Goldman Sachs’ Investment Banking Division, discusses how the surge in demand for online learning is translating into strategic activity across the edtech sector.
ESG in the Food & Beverage and Alcohol & Tobacco Sectors
Sandra Lawson, head of Sustain Strategy within Goldman Sachs Research, kicks off the ESG Sector Roadmap project, taking a sector-level view of principal environment, social and governance risks and opportunities over the medium-term, starting with the Food & Beverage and Alcohol & Tobacco sectors.
What’s Next for European Capital Goods
Daniela Costa, business unit leader for Goldman Sachs Research’s European Industrials and head of the European Capital Goods team, discusses how European industrial companies have been impacted by the pandemic and what the long-term growth opportunities are for the sector.
The Fed’s New Approach to Inflation
Jan Hatzius, Goldman Sachs’ chief economist, shares insights on the Fed’s new policy framework and how the introduction of average inflation targeting could impact both monetary policy and the outlook for the broader economy.
Investing Insights from Big Data
Nicholas Chan, client portfolio manager on the Quantitative Investment Strategies (QIS) team within Goldman Sachs Asset Management, discusses the role of big data in investing and what it reveals about trends in behavior since the onset of the pandemic.
Financing Higher Education During a Time of Disruption
Diana Hoadley of the Public Sector and Infrastructure Finance Group in the Goldman Sachs Investment Banking Division discusses how higher education institutions are managing the financial impact of COVID.
How Individual Investors Are (and Aren’t) Shaping Markets
John Marshall, head of derivatives research for Goldman Sachs Research, discusses the rise of individual investor activity in the US and whether equities can remain at recent levels as this activity wanes.
China’s New Infrastructure
Jacqueline Du of Goldman Sachs Research shares her expectations for the scope of China’s “new infrastructure” investment and the economic benefits.
Australia’s Navigation of the Pandemic
Simon Rothery, chief executive officer for Goldman Sachs Australia, discusses how the country has navigated the economic and health challenges of the pandemic.
The Business Case for Investing in Diversity
Katie Koch, co-head of the Fundamental Equity business within Goldman Sachs Asset Management, discusses the correlation between diverse investing teams and better investment performance.
What Investors are Watching in Europe
Stefan Bollinger, co-head of Goldman Sachs’ Private Wealth Management for EMEA, discusses how investors are approaching the markets in the second half of the year.
Evolving Corporate Sentiment in Europe
Anthony Gutman, global co-head of Goldman Sachs’ Investment Banking Services, discusses European corporate sentiment for the second half of 2020, including a renewed focus on strategic activity as well as an emphasis on corporate responsibility.
The Global R&D Landscape
Abby Joseph Cohen, senior investment strategist for Goldman Sachs, discusses how the pandemic has focused new attention on the importance of investing in science and technology to drive economic growth.
What’s Next for US Equities
David Kostin, chief US equity strategist for Goldman Sachs Research, discusses changes to his near-term forecasts on the heels of a better-than-feared earnings season, as well as his outlook for the S&P 500 over the next decade.
The Beauty Industry’s Next Steps
Janki Gandhi, who focuses on consumer retail for Goldman Sachs’ Investment Banking Division, discusses the impact of the economic shutdown on the beauty and personal care sector, as well as the outlook for M&A activity within the industry.
The Future of Robotic Surgery
Amit Hazan, equity analyst for Goldman Sachs Research’s medical technology team, discusses how robotic surgery is quickly evolving from a few limited procedures to a broader range that could drive a $17bn market in the US by 2030.
India Internet at an Inflection Point
Manish Adukia, equity analyst for Goldman Sachs Research’s Asia-Pacific Telecommunications team, discusses how India’s internet market, one of the largest in the world, is at an inflection point both in terms of growth and profitability.
The Momentum Driving Equity Issuance
David Ludwig, head of Americas Equity Capital Markets for Goldman Sachs’ Investment Banking Division, discusses the recent equity issuance volumes and the return of the IPO market.
The Ascent of Asia’s Digital Economy
Tim Moe, Goldman Sachs Research’s chief Asia Pacific regional equity strategist, discusses how the rise of the digital economy has reshaped Asia’s equity markets.
The Evolution of Capital Markets in Europe
Elizabeth Martin, head of EMEA Equities Execution Services and Systematic Market Making, discusses the evolving liquidity landscape, the advancement of electronic trading and how European clients are navigating the capital markets heading into the second half of the year.
E-Commerce’s Steepening Curve
Heath Terry, Goldman Sachs Research’s business unit leader for the Technology, Media and Telecom Group, discusses the surge in e-commerce activity during the pandemic and whether the growth looks sustainable.
What’s Next for the Tech IPO Market
Nicole Irvin, a managing director in the Global Technology, Media and Telecom Group in the Investment Banking Division, discusses what’s driving IPO activity in the tech sector and how the pandemic has impacted sentiment around direct listings.
Commodities Update: Silver Steps Out of Gold’s Shadow
Sarah Kiernan, head of Americas Commodities Sales for Goldman Sachs’ Global Markets Division, discusses trends across two of the biggest areas of the commodities market, oil and gold, as well as the recent surge in silver prices.
Shareholder Activism in Uncertain Times
Pamela Codo-Lotti, a managing director in the Mergers and Acquisitions Solutions Group, discusses the environment for shareholder activism in the second half of 2020 and how companies are thinking about defensive strategies.
The Outlook for M&A Activity
Michael Carr, global co-head of Goldman Sachs' Mergers & Acquisitions Group, shares his view on M&A activity as a lens into corporate sentiment and the broader economy.
Investing in Racial Economic Equality
Allison Nathan, senior strategist for Goldman Sachs Research, discusses her latest Top of Mind report on how to close the large and persistent Black-white earnings and wealth gaps central to the social and economic racial inequality in the US.
Trends Shaping the Equity Markets
Philip Berlinski, co-chief operating officer of Global Equities, shares his view on equity markets heading into the second half of the year.
“Climbing the Wall of Worry”
Sharmin Mossavar-Rahmani, head of the Investment Strategy Group for Goldman Sachs’ Consumer and Investment Management Division, discusses the “wall of worry” that US equities have climbed since the trough of the S&P 500 in March and her team’s recommendation to stay invested amid the current challenges of the pandemic.
Carbon Offsets and the Climate Transition
Sharmini Chetwode, head of Environmental, Social and Governance Research for Asia, discusses carbon offsets as a critical but imperfect tool in the transition to the low carbon economy.
Pricing the Probability of Virus Risks
Dominic Wilson, senior markets advisor and advisory director for Goldman Sachs Research, discusses how the markets are assessing the upside and downside risks of the pandemic.
Corporate Earnings and the Global Economy
Stephen Scherr, Goldman Sachs’ Chief Financial Officer, discusses corporate earnings as a lens into the broader economic recovery, the primary themes in Goldman Sachs’ second quarter earnings, and what he’s focused on for the second half of the year.
The Future of the US Dollar
Jennifer Roth, head of Goldman Sachs’ Emerging Markets International Sales and Foreign Exchange Sales teams in New York, shares insights from the trading desk on the medium-term outlook for the US dollar.
Accelerating Trends in Consumer Retail
Lindsay Drucker Mann, head of Consumer Retail Equity Capital Markets within Goldman Sachs’ Investment Banking Division, discusses how consumer retail companies are accessing the equity issuance market and the ways in which the economic shutdown has accelerated trends in the consumer retail space.
Sustainable ESG Investing
Steve Strongin, a senior advisor at Goldman Sachs, talks about what it will take for ESG to endure as an investment discipline in the long term.
Private Debt’s First Big Test
Amanda Lynam, senior credit strategist on the global credit strategy team for Goldman Sachs Research, discusses how private debt, a relatively young asset class, is performing amidst its first economic downturn.
The Outlook for Tech Investing
Sung Cho, co-lead of technology investing for Goldman Sachs Asset Management’s US Equity team, discusses how the tech sector is evolving and what that means for investors.
Tracking US Infrastructure Investing
Jerry Revich, equity analyst for Goldman Sachs Research, discusses US infrastructure investing and the risk of a slowdown in public-sector construction spending.
The Next Phase of Corporate Strategy
Gregg Lemkau, co-head of Goldman Sachs’ Investment Banking Division, shares insights on how he expects CEOs and business leaders to approach corporate strategy in the second half of 2020.
What’s Next for Emerging Markets Equities
Basak Yavuz, co-head of Emerging Markets Equities for Goldman Sachs Asset Management, discusses the increased investor optimism around emerging markets and the sectors that are seeing the strongest performance.
Face Masks and GDP
Jan Hatzius, head of Goldman Sachs Research and the firm’s chief economist, explores the link between face masks and coronavirus outcomes, and the economic value of a national face mask mandate in reducing the need for broad lockdowns.
Small Cap Stock Performance
Greg Tuorto, portfolio manager on the Goldman Sachs Asset Management Fundamental Equity team focused on the US Smid Growth and Small Cap Growth Strategies, discusses small cap stock performance since the mid-March market rally.
Stress Testing the Big US Banks
Richard Ramsden, business unit leader of the Financials Group in Goldman Sachs Research, discusses the Federal Reserve’s new framework for stress testing American banks and what the results mean for the banks’ ability to manage their capital and support the economic recovery.
Paving the Way for the European Green Deal
Alberto Gandolfi, head of European Utilities for Goldman Sachs Research, discusses the potential of the European Commission’s Green Deal to reshape the European economy and transform energy consumption from manufacturing to transportation.
The Rise of Chinese Beauty Brands
Christine Cho, equity analyst for Goldman Sachs Research, discusses the surge in China’s beauty market driven by the next generation of millennial and Gen Z consumers and the continuing growth of e-commerce.
The Future of Fintech
Jeff Gido, global head of the Financial Technology sector in Goldman Sachs’ Investment Banking Division, discusses how the pandemic has accelerated widespread adoption of fintech.
Trends in Japanese Markets
Ben Ferguson, head of Goldman Sachs’ Asia Pacific Equities Distribution and co-head of Japan Securities Sales, talks about the lessons learned from the introduction in 2016 of negative interest rates on Japan’s economy and the impact of coronavirus on corporate reform.
The Future of European Equities
Sharon Bell, senior strategist on Goldman Sachs Research’s European Portfolio Strategy team, discusses recent market performance and whether European equities are poised to outperform.
The Rise of Social Bonds
Lars Humble, who focuses on debt syndication for sovereigns, supranationals and agencies within Goldman Sachs’ Financing Group, discusses the impact of the pandemic on the role of multinational development agencies and the shift in investor sentiment around social bonds.
Takeaways from the 24th European Financials Conference
Jernej Omahen, head of the European Financial Institutions Group for Goldman Sachs Research, shares what was discussed at the firm’s 24th European Financials Conference—a virtual gathering of bank executives, investors, regulators, and policymakers.
The New Infrastructure is Digital
Philippe Camu, global co-head of the infrastructure investment group, talks about how the next big public-works projects are more focused on fiber and data centers than traditional construction like roads and airports.
The Rise of the “S” in ESG Investing
Sheila Patel, Chairman of Goldman Sachs Asset Management, discusses how the social component of ESG is rising in prominence.
The Future of Learning
Katherine Tait, media and education equity analyst for Goldman Sachs Research, discusses how the global adoption of remote learning is accelerating the transformation of online education.
The Outlook for ETFs
Michael Crinieri, global head of Exchange Traded Funds within Goldman Sachs Asset Management, discusses the sectors of the ETF market that are seeing the strongest inflows and outflows during the shutdown.
The Impact of the ECB’s Expanded Bond-Buying Program
Alain Durré, Senior European Economist for Goldman Sachs Research, discusses the impact of the European Central Bank’s decision to expand its bond-buying program, and the prospect of fiscal stimulus by EU member countries.
The Scale and State of the Semiconductor Industry
Tammy Kiely, co-head of Goldman Sachs’ Technology Investment Banking, discusses the impact of the pandemic on chip makers, the evolution of competition among semiconductor manufacturers and customers, and the geopolitical factors that are helping shape the industry.
The End of LIBOR
Jason Granet, leader of Goldman Sachs’ London Inter-bank Offered Rate (LIBOR) transition efforts, discusses the impact of the pandemic on the massive undertaking of phasing out LIBOR to alternative reference rates.
Confronting Inequality and Injustice
Margaret Anadu, head of Goldman Sachs’ Urban Investment Group, discusses inequality, racial injustice and other issues that are impacting underserved communities around the country.
Accelerated Innovation in the Healthcare Industry
Jenny Chang, portfolio manager for Goldman Sachs Asset Management’s Fundamental Equity team, discusses how the pandemic is driving innovation and increased collaboration across the healthcare industry.
The Evolution of Europe’s Tech Landscape
Clif Marriott, co-head of Goldman Sachs’ Technology, Media and Telecom Group in EMEA, discusses the evolution of Europe’s tech industry and how the crisis is accelerating trends across the sector, including growth in e-commerce and collaboration software as well as the digitization of content.
The Future of Work: What’s Next for Hardware
Rod Hall, senior equity analyst for Goldman Sachs Research’s Hardware and Communications Technology group, discusses how the rapid transition to working remotely could pave the way for technologies like virtual reality, enterprise infrastructure at home, and more.
The Future of Work: Enterprise 4.0
Heather Bellini, business unit leader of Goldman Sachs’ Technology Research Group, discusses how the rapid transition to working from home has accelerated the next phase of enterprise software.
Analyzing China’s Consumer Behavior
Michelle Cheng, equity analyst for Goldman Sachs Research, discusses the framework her team is using to analyze consumer behavior in China and the key data points they are focused on to forecast long-term growth across a range of retail categories.
How the Insurance Industry Is Reacting to COVID-19
Michael Siegel, head of the Insurance Asset Management and the Liquidity Solutions businesses within Goldman Sachs Asset Management, talks about the ways the insurance industry is adapting to the challenges brought on by the coronavirus.
The Challenges of COVID-19 Across Emerging Market Economies
Kevin Daly, co-head of Goldman Sachs’ CEEMEA Economics Research, discusses the impact of the pandemic on emerging markets government deficit and debt levels, and the fiscal adjustments that are likely to be required in the aftermath of the crisis.
The Music Industry’s Next Steps
Lisa Yang, head of Goldman Sachs’ European Media and Internet Research, discusses the impact of the pandemic on the music industry and the long-term outlook for growth across streaming platforms.
Supply and Demand Issues in the Auto Industry
Axel Hoefer, Goldman Sachs’ head of auto industry coverage in Europe, discusses the impact of coronavirus on the global demand for cars and the outlook for manufacturing as production restarts in some countries.
Reopening Retail and the Future of Shopping
Jen Davis, Goldman Sachs’ head of retail investment banking, discusses the impact of the pandemic on various parts of the retail industry, including the potential shift in consumer behavior and the outlook for e-commerce.
Understanding the Markets-Macro Disconnect
Sam Morgan, co-head of Fixed Income, Currency and Commodities Sales in EMEA, discusses why markets are robust despite challenging economic data.
How Coronavirus is Changing the Way Food is Bought and Sold
Ben Frost, head of Mergers & Acquisitions for Goldman Sachs’ Consumer Retail Group, discusses the impact of coronavirus on grocery stores, supply chains, and consumer behavior.
Telehealth’s Rapid Rise
Jim Sinclair, a Managing Director in Goldman Sachs’ Healthcare Investment Banking Division, discusses how the pandemic is driving increased adoption of telehealth technology.
Richard Gnodde on Navigating Through a Crisis
Richard Gnodde, chief executive officer of Goldman Sachs International, discusses how business leaders in Europe are thinking about their corporate planning and decision-making in response to the economic downturn.
Tracking China’s Economic Recovery
Trina Chen, co-head of Goldman Sachs’ China Equity Research, shares trends she’s seeing in her team’s aggregated demand tracker, which measures recovery in a wide range of industrial and consumer data points.
The Wave of Fallen Angels
Ashish Shah, co-chief investment officer for Goldman Sachs Asset Management’s Global Fixed Income and Liquidity Solutions business, discusses the wave of fallen angels as rating agencies downgrade the debt of blue-chip companies at the fastest rate since the financial crisis.
Stacy Selig on ESG as a Market Theme
Stacy Selig, co-head of Goldman Sachs Global Sales Strats and Structuring, talks about how she’s helping investors see past the broader trends reflected in major indices and dig deeper to find the tactical drivers of the global economy in a time of historic disruption and uncertainty.
Jason Mathews on Major Themes Driving Markets
Jason Mathews from Goldman Sachs Equity Derivative Sales discusses how clients are navigating markets and planning for the future during a time of unprecedented volatility.
How Corporate CEOs are Navigating the Shutdown
Matt Gibson, co-head of Goldman Sachs Global Investment Banking Services, discusses what’s on the minds of CEOs as they navigate the shutdown—from an early focus on liquidity and adapting to work from home, to first quarter earnings and the long-term outlook for their businesses.
How the Shutdown is Driving Millennial Investing Themes
Laura Destribats, portfolio manager for Goldman Sachs Asset Management’s fundamental equity team, discusses how the economic shutdown is accelerating growth across industries like video conferencing, e-commerce, streaming, and social media.
The Case for Variable Dividends
Jim Covello, Goldman Sachs Research’s co-head of single name research, discusses the idea of “variable dividends” as an alternative to fixed dividends, which can provide companies with greater balance sheet flexibility.
José Manuel Barroso on Europe’s Economic Relief Package
José Manuel Barroso, chairman of Goldman Sachs International and former president of the European Commission, weighs in on the economic relief package endorsed by European leaders.
What Shutdowns Mean for Real Estate Investing
Nora Creedon, global head of REITs and Infrastructure in Goldman Sachs Asset Management, discusses how the economic shutdown has impacted real estate investing across sectors.
The Record Volumes and Big Deals Reshaping the Credit Markets
Jonny Fine, head of Goldman Sachs’ Investment Grade Syndicate in the Americas, discusses what’s driving the corporate credit markets during a time of unprecedented uncertainty.
Harit Talwar on the Future of Consumer Banking
Harit Talwar, global head of Goldman Sachs’ Consumer Business, discusses the impact of the economic shutdown on the evolution of consumer financial services.
Latin America’s Response to the Economic Downturn
Gonzalo Garcia, Goldman Sachs co-head of Latin America and head of Investment Banking in Latin America, discusses how the current environment is impacting the region’s economy and how the firm is helping clients access capital to stabilize economies across the region.
Muni Market Activity
Sylvia Yeh, co-head of Goldman Sachs Asset Management’s Municipal Fixed Income business, discusses volatility in the municipal bonds market and what the Federal Reserve’s latest measures could mean for investors.
Why Money Markets Matter Right Now
Kathleen Hughes, global head of Liquidity Solutions in Goldman Sachs Asset Management, discusses the emerging focus on money markets and short-duration investing as businesses look to navigate the current market environment.
Volatility in the Oil Markets
Michele Della Vigna, Goldman Sachs Research’s head of EMEA natural resources, discusses the dual challenges the world’s oil producers are facing from coronavirus and a battle for market share, which has caused a global imbalance in the supply and demand for oil.
How Investors Are Approaching ESG Today
Kara Mangone, Chief Operating Officer of Goldman Sachs’ Sustainable Finance Group, discusses how the global pandemic is impacting the way corporates and investors approach ESG.
The Challenges and Opportunities of Working from Home
Atte Lahtiranta, Goldman Sachs’ chief technology officer, discusses ways that the pandemic is accelerating the digital transformation of the financial services industry, and the long-term implications across industries.
Historical Surge in Jobless Claims
Goldman Sachs Research’s David Mericle, chief US economist, discusses the historical surge in jobless claims and what it signals for GDP.
Navigating Market Volatility
Kevin Kelly, Goldman Sachs’ co-head of Global Prime Services, discusses how hedge funds are navigating historic levels of market volatility and clients’ “constructive, cautiously optimistic” sentiment looking ahead.
The Anatomy of Bear Markets
Goldman Sachs Research’s Peter Oppenheimer, chief global equity strategist, examines the current market downturn within the context of bear markets throughout history.
The Impact of Market Volatility on Retirement Investing
Mike Moran, pension strategist in Goldman Sachs Asset Management, discusses how market volatility is affecting retirement investments, including corporate defined benefit pensions and 401(k) plans.
Economic Impact of Coronavirus in Japan
Goldman Sachs Research’s Kathy Matsui, co-head of macro research in Asia and chief Japan equity strategist, discusses the economic impact of the postponement of the Tokyo Summer Olympics and Paralympics and how the pandemic is affecting the outlook for Japanese equities.