Allison Nathan of Goldman Sachs Research dives into macro developments that are top of mind for investors, executives and policymakers.
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(Japanese) Bonds, Bonds, Bonds
Bond markets have been on a wild ride. After a rally heading into the year, yields have recently risen sharply on better growth and sticky inflation data. The bond story has also been joined by a character not seen in many years: Japan. What lies ahead for global bond markets—and especially JGBs given the impending shift in BoJ leadership—and the implications for other assets and investors’ portfolios is Top of Mind.
The Bigger Worry: Growth or Inflation?
The recent sharp rally in bonds suggests that the market increasingly thinks inflation is yesterday’s problem and that growth is the main worry for 2023. But are recession risks overblown and inflation risks underappreciated? What’s in store for growth and inflation, and what that means for markets, is Top of Mind.
2022: 3 Themes in Charts
Headed into the end of another eventful year, Goldman Sachs Research’s Top of Mind team charts the story of the three major themes that characterized 2022—old and new exogenous shocks, inflation and its impacts, and larger trends sure to shape the years ahead.