Exchanges

2024 midyear outlook: building portfolios for a more volatile macroeconomic backdrop

18 Jun 2024

Contributed by Lukas

Goldman Sachs’ Christian Mueller-Glissmann and Alexandra Wilson-Elizondo discuss their outlooks for asset classes and portfolios heading into the se...

Power surge: AI, renewable energy, and the future of electricity

11 Jun 2024

Contributed by Lukas

The demand for power, driven in part by the rise of generative artificial intelligence, is set to grow to levels not seen in a generation. Goldman Sac...

Central bank divergence: Why it's happening and why it matters

04 Jun 2024

Contributed by Lukas

The Federal Reserve has historically led a relatively synchronized monetary policy cycle across the major economies, but this cycle seems to be shapin...

Can private equity bounce back?

28 May 2024

Contributed by Lukas

On this episode of Goldman Sachs Exchanges, Goldman Sachs Research’s Alex Blostein joins moderator Allison Nathan to discuss the challenges and oppo...

Is China’s rebound for real?

21 May 2024

Contributed by Lukas

After better-than-expected economic data kicking off the year, and a blistering start for the equity market, where does China go from here? Goldman Sa...

How AI, the energy transition, and the future of work are shaping impact investing

14 May 2024

Contributed by Lukas

Is it possible to have a positive impact through investing without giving up on returns? Brian Singer of Goldman Sachs Research and Greg Shell of Gold...

Is the UK economy finally turning the corner?

07 May 2024

Contributed by Lukas

Goldman Sachs Research's Jari Stehn joins Charlotte Keenan of the firm's Office of Corporate Engagement to discuss the UK economy’s unique economic ...

Why Treasury auctions — and rising deficits — are becoming a focal point for markets and investors

30 Apr 2024

Contributed by Lukas

Recent weakness in US Treasury bond auctions have become a focal point for markets. Goldman Sachs’ Jonny Fine and Alec Phillips discuss the implicat...

Weighing the GLP-1 Market

23 Apr 2024

Contributed by Lukas

The newest generation of GLP-1 drugs are being hailed by some as “miracle drugs” for the treatment of obesity. But GLP-1s are expensive, insurance...

Are inflation fears overblown? The outlook for inflation, US growth, and long-term rates

16 Apr 2024

Contributed by Lukas

Goldman Sachs Research’s US Chief Economist David Mericle explains why worries over overheating inflation are overblown and why the outlook for US e...

Global insurers turn to private credit — and AI

09 Apr 2024

Contributed by Lukas

Where do the world’s largest investors see investment opportunities? Against a more constructive macroeconomic environment, insurers appear to be mo...

Capital Group’s Rob Lovelace on long-term investing, succession planning, and leadership lessons

02 Apr 2024

Contributed by Lukas

Capital Group’s Rob Lovelace discusses the firm’s distinct investment process and culture, how he’s thinking about macro trends, and his lessons...

Are the largest US stocks too dominant?

26 Mar 2024

Contributed by Lukas

The US stock market is more concentrated than it’s been in decades, with a small number of stocks accounting for an unusually large share of market ...

Global transit & trade: in rough waters

19 Mar 2024

Contributed by Lukas

Transit on the seas — the planet’s most important means of trade — has become more fraught amid geopolitical and climate-related disruptions, pa...

High mortgage rates, limited inventory continue to challenge the US housing market

12 Mar 2024

Contributed by Lukas

High mortgage rates and a limited supply of homes have created one of the tightest markets in decades. Goldman Sachs Research’s Roger Ashworth expla...

What’s ahead for retail: how retail CEOs are navigating a more complex environment

05 Mar 2024

Contributed by Lukas

Retailers are facing a more complex environment in 2024, say Goldman Sachs’ Tim Ingrassia, co-chairman of Global Banking & Markets’ Global Mergers...

Beyond roads, bridges, and tunnels: the megatrends shaping infrastructure investments

28 Feb 2024

Contributed by Lukas

Climate change, artificial intelligence, shifting supply chains, and population growth are among the broader forces that have boosted the returns — ...

Dimensional’s Founder and Chairman David Booth on being an index pioneer, working with Nobel laureates, and investing through uncertainty

23 Feb 2024

Contributed by Lukas

David Booth, founder and chairman of Dimensional Fund Advisors, reflects on his career in applying the finance theory he learned at the University of ...

Shifting supply and demand dynamics buffer oil market

21 Feb 2024

Contributed by Lukas

Oil prices have remained relatively rangebound despite rising geopolitical tensions. Goldman Sachs Research’s Daan Struyven, head of oil research, e...

2024: the year of elections

13 Feb 2024

Contributed by Lukas

With voters representing over half the world’s population — in the US, Europe, India, and beyond — expected to head to the polls this year, Rich...

Investing in a post-modern ‘super cycle’

06 Feb 2024

Contributed by Lukas

Longer-term structural changes in economic activity, policy, and society can have a bigger impact on investment opportunities than the shorter-term ho...

The Future of Four Wheels: Episode 4, How a New Kind of Car Will Change Our World

01 Feb 2024

Contributed by Lukas

In the final episode of our four-part special series, we look at how infrastructure and the built environment will change cars as evolve into zero-emi...

The Future of Four Wheels: Episode 3, The New New-Car Business

31 Jan 2024

Contributed by Lukas

In the third episode of our four-part special series, we delve into the ways carmakers new and old have to think about raising capital, corporate stru...

The Future of Four Wheels: Episode 2, Building the Car of the Future

30 Jan 2024

Contributed by Lukas

In the second episode of our four-part special series, we go deep into how the production of the car is changing, from new manufacturing methods to th...

The Future of Four Wheels: Episode 1, The Twin Revolution

29 Jan 2024

Contributed by Lukas

In the first episode of our four-part special series, we take a close look at the two fundamental changes that are upending the auto industry: electri...

Goldman Sachs Chairman and CEO David Solomon on the global economy, the deal-making environment, and the firm’s strategic priorities

23 Jan 2024

Contributed by Lukas

Goldman Sachs Chairman and CEO David Solomon shares his view on the global economy, what’s top of mind for business leaders, and why he believes inf...

America Powers On: Why US equities are still poised to outperform in 2024

18 Jan 2024

Contributed by Lukas

Goldman Sachs’ Sharmin Mossavar-Rahmani, head of the Investment Strategy Group (ISG) and chief investment officer of GS Wealth Management, shares IS...

US presidential elections outlook: Implications for policy and markets

09 Jan 2024

Contributed by Lukas

As the primary season in the US presidential election kicks off this month, Goldman Sachs’ Joe Wall from the Office of Government Affairs and Alec P...

KKR’s Henry Kravis on private equity, culture, and global markets

05 Jan 2024

Contributed by Lukas

In this episode of Goldman Sachs Exchanges: Great Investors, Henry Kravis, co-founder and co-executive chairman of KKR, discusses the evolution of the...

Uncharted territory: Navigating a ‘geopolitical recession’

03 Jan 2024

Contributed by Lukas

Against a backdrop of tense US-China relations and the ongoing conflicts in the Middle East and Ukraine, Washington and Wall Street are increasingly w...

Asset allocation outlook: The case for greater portfolio diversification in 2024

20 Dec 2023

Contributed by Lukas

As fears over inflation and interest rates start to moderate, the case for taking on more risk may be rising. Christian Mueller-Glissmann, who heads a...

Focus on financials: Why banks and asset managers are constructive about the economy in 2024

18 Dec 2023

Contributed by Lukas

How is the financial services sector, often seen as a bellwether for the economy, coping with inflation, interest rates, and greater regulatory pressu...

Middle East risks

15 Dec 2023

Contributed by Lukas

In this episode of Goldman Sachs Exchanges, Edward P. Djerejian, former US Ambassador to Israel and Syria, and former US Assistant Secretary of State ...

M&A in 2024: Navigating opportunities and challenges

12 Dec 2023

Contributed by Lukas

After a slow start to 2023, deal-makers are starting to return to the negotiating table. Goldman Sachs’ Stephan Feldgoise and Mark Sorrell, the co-h...

Blackstone’s Kathleen McCarthy on the forces shaping the real estate industry

05 Dec 2023

Contributed by Lukas

As global co-head of real estate at Blackstone, Kathleen McCarthy has helped grow the firm’s real estate assets under management to more than $330 b...

What China’s struggling property sector means for the global economy and markets

28 Nov 2023

Contributed by Lukas

China’s property sector has remained under pressure, hobbling the country’s recovery and weighing on global economic growth. In this episode, Gold...

What’s the outlook for deal-making, corporate and investor sentiment, and markets?

21 Nov 2023

Contributed by Lukas

In this episode of Goldman Sachs Exchanges, Dan Dees, Jim Esposito, and Ashok Varadhan, the co-heads of Goldman Sachs' Global Banking & Markets busine...

Why the global economy and markets can continue to outperform in 2024

14 Nov 2023

Contributed by Lukas

Goldman Sachs’ Jan Hatzius, the firm's chief economist and head of Goldman Sachs Research, and Dominic Wilson, senior advisor in the Global Markets ...

BlackRock’s Tony Kim on the ‘dawn of a new intelligence era’

10 Nov 2023

Contributed by Lukas

In a conversation moderated by Goldman Sachs’ Michael Brandmeyer, BlackRock’s Tony Kim, head of tech sector fundamental equities, shares his views...

The $100 billion opportunity: How anti-obesity drugs are reshaping healthcare and consumer behavior

07 Nov 2023

Contributed by Lukas

Goldman Sachs Research’s Chris Shibutani and Jason English explain the business and investor implications of the latest anti-obesity medications and...

Impactive Capital’s private equity approach to ESG-oriented activism

03 Nov 2023

Contributed by Lukas

Lauren Taylor Wolfe, co-founder and managing partner of Impactive Capital, explains why taking a collaborative, private equity approach as an ESG-orie...

Is US outperformance at a turning point?

01 Nov 2023

Contributed by Lukas

The US has had an exceptional decade. US economic growth and equities have outperformed, and the dollar’s global role remains unchallenged. But can ...

Unlocking the AI M&A Supercycle

24 Oct 2023

Contributed by Lukas

The rapid rise in adoption of generative AI is spurring companies of all sizes to rethink their strategic plans for growth. Goldman Sachs Investment B...

Commercial real estate risks

17 Oct 2023

Contributed by Lukas

US commercial real estate has been hit by the surge in interest rates and a pullback in lending from regional banks. Scott Rechler, chairman and CEO o...

Implications of a higher-for-longer rate regime

11 Oct 2023

Contributed by Lukas

Global bond yields have moved sharply higher in recent weeks, setting the stage for a higher-for-longer rate regime. Goldman Sachs Research’s Pravee...

General Catalyst CEO Hemant Taneja on mission-driven investing, health assurance, and AI’s transformation advantage

06 Oct 2023

Contributed by Lukas

General Catalyst CEO Hemant Taneja shares his insights on the venture capital landscape, society’s digital transformation, and the firm’s mission-...

Why most Americans aren’t saving enough for retirement

03 Oct 2023

Contributed by Lukas

An improving economic backdrop is helping to bolster retirement savings but Americans are facing a raft of financial challenges. A retirement plan and...

The IPO market’s soft opening

26 Sep 2023

Contributed by Lukas

Signs of life in the global IPO market are spurring investor optimism for a broader recovery. On Goldman Sachs Exchanges, David Ludwig, global head of...

Tech companies are investing in growth

19 Sep 2023

Contributed by Lukas

After a period of cost cutting and layoffs — and buoyed by generative AI tailwinds — software and internet companies are starting to invest for gr...

Emerging market equities poised to overtake developed market equities

15 Sep 2023

Contributed by Lukas

Developed market equities have long dominated global equity markets, but that’s set to change in the coming decades. Kevin Daly, co-head of CEEMEA E...

How companies, private equity firms, and institutional investors are navigating the global economy

12 Sep 2023

Contributed by Lukas

Goldman Sachs’ Co-head of Global Banking & Markets Jim Esposito explains how companies and investing clients are navigating markets and the global e...

A conversation with Renaissance Technologies CEO Peter Brown

11 Sep 2023

Contributed by Lukas

In this special episode of Goldman Sachs Exchanges: Great Investors, Peter Brown, CEO of Renaissance Technologies, talks about his career and building...

The Fed is likely finished hiking rates as the US avoids recession

07 Sep 2023

Contributed by Lukas

Worries that rising inflation will force the Federal Reserve to raise interest rates later this year appear to be fading amid encouraging signs in the...

The economic potential of closing gender and racial gaps

22 Aug 2023

Contributed by Lukas

Goldman Sachs Research’s Sharon Bell and Gizelle George-Joseph discuss the progress, challenges, and opportunities facing women and Black Americans,...

The music industry’s turning point

18 Aug 2023

Contributed by Lukas

The music industry is on the verge of another major structural change, so what should listeners, artists, and industry professionals expect over the y...

BlackRock’s Rick Rieder on his career, the markets, and investing in the current environment

17 Aug 2023

Contributed by Lukas

As the Chief Investment Officer of Global Fixed Income for BlackRock, Rick Rieder and his team are responsible for about $2.4 trillion of assets. In t...

Corporate credit concerns

15 Aug 2023

Contributed by Lukas

Higher interest rates are making it more expensive for companies to borrow money. So what could that mean for the health of corporate America? Saba Ca...

Germany: a country at the crossroads

08 Aug 2023

Contributed by Lukas

Germany slipped into a technical recession earlier this year as the country struggles with a weaker manufacturing sector, high inflation and a war on ...

Why the U.K.’s high inflation has global implications

01 Aug 2023

Contributed by Lukas

More than any other advanced economy, the U.K. has been squeezed by sharply higher prices, but new data shows that inflation may be starting to fall. ...

Man Group CEO Luke Ellis on hedge funds, quantitative strategies and lessons in leadership

25 Jul 2023

Contributed by Lukas

Since Luke Ellis took the helm as CEO of Man Group, a global active investment management firm with a significant hedge fund offering, the firm’s as...

What’s next for China’s economy?

21 Jul 2023

Contributed by Lukas

China's emergence from Covid lockdowns was expected to boost the global economy. But a string of disappointing data is giving investors, policymakers ...

Generative AI: hype, or truly transformative?

18 Jul 2023

Contributed by Lukas

Investor interest in generative AI technology has surged. But is the hype and market pricing around the technology warranted? In this episode of Goldm...

Why 'everything aligns' for Japanese stocks

11 Jul 2023

Contributed by Lukas

Goldman Sachs Research’s Bruce Kirk, chief Japan equity strategist, explains the drivers behind the rally in Japan’s equity market and the state o...

Why global equities are poised for “fat and flat” returns

03 Jul 2023

Contributed by Lukas

Global equity markets have performed relatively well in the first half of the year, but can this performance last? Goldman Sachs Research’s Peter Op...

What’s ahead for the U.S. economy?

28 Jun 2023

Contributed by Lukas

The U.S. economy has shown signs of surprising resilience this year, despite concerns over inflation, recession and the Fed’s path from here. In the...

GQG’s Rajiv Jain on bold moves, growth of capital and global markets

20 Jun 2023

Contributed by Lukas

Since GQG Partners’ Chairman and CIO Rajiv Jain co-founded the global boutique asset management firm in 2016, the company has grown to more than $10...

The Markets: What the Fed’s hawkish pause means for markets

16 Jun 2023

Contributed by Lukas

Breaking down the latest decisions from the Fed and the ECB, as well as how corporates are navigating the current economic climate, Jonathan Fine, hea...

An inside look at family offices’ investing strategies

13 Jun 2023

Contributed by Lukas

Family offices have long managed the financial affairs of the world's wealthiest families. In this episode, Meena Flynn and Sara Naison-Tarajano from ...

The Markets: Why the AI-driven tech rally has legs

09 Jun 2023

Contributed by Lukas

Investor enthusiasm for artificial intelligence has driven equity markets higher, but does the current rally have legs? In this week’s Markets podca...

How countries and companies are reshaping their supply chains

06 Jun 2023

Contributed by Lukas

How are countries and companies reshaping their supply chains for a new era of global trade? In this episode, Andrew Tilton, chief Asia Pacific econom...

The Markets: What’s next for U.S. Treasuries

02 Jun 2023

Contributed by Lukas

Discussing what’s next for U.S. treasury issuance as debt ceiling concerns fade, the Fed’s next move, and underlying trends in U.S. equity perform...

Daunting debt limit dynamics

30 May 2023

Contributed by Lukas

In this episode, Stephen Kaplan, associate professor at George Washington University, Alec Phillips, Goldman Sachs Research’s chief political econom...

The Markets: Are markets pricing in the potential of a default?

26 May 2023

Contributed by Lukas

Debt ceiling discussions are the primary focus of markets this week but equity and bond markets are reacting in very different ways, explains Candice ...

Why the ‘great de-stocking’ in oil and commodities could pave the way for future gains

25 May 2023

Contributed by Lukas

Oil and commodity prices have fallen this year amid unprecedented declines in inventories. But this “great de-stocking” could also pave the way f...

The Markets: Why European stocks are beating US equities

19 May 2023

Contributed by Lukas

Breaking down this week’s economic data and events from the Euro area, Japan, China and the U.S., Luke Barrs, global head of client portfolio manage...

Investing during times of market stress

16 May 2023

Contributed by Lukas

In this episode, Goldman Sachs Research’s Christian Mueller-Glissmann, who heads asset allocation research within portfolio strategy, explains how r...

The Markets: Pricing in the probability of a recession

12 May 2023

Contributed by Lukas

Analyzing this week’s CPI print, continuing concerns in the banking sector, and the ongoing debt limit debate, Joseph Briggs, a global economist in ...

Breaking Free: The rise of corporate separations

11 May 2023

Contributed by Lukas

In an environment where merger and acquisition activity is still relatively subdued, companies are turning to spinoffs, sales and divestitures. But wh...

U.S.-China: more decoupling ahead?

09 May 2023

Contributed by Lukas

Geopolitical tensions between the U.S. and China have been running high for some time, but are escalating as President Biden prepares to unveil furthe...

The Markets: Fed rate hikes, banking stress & debt limit concerns

05 May 2023

Contributed by Lukas

Explaining the takeaways from this week’s Fed decision, recent banking sector stress and debt limit concerns, Ashish Shah, chief investment officer ...

Is big tech back?

04 May 2023

Contributed by Lukas

After a sharply disappointing performance in 2022, tech stocks are roaring back. But is the latest revival just a short-term blip? Or is there a new g...

What happens if the U.S. government can’t pay its bills?

02 May 2023

Contributed by Lukas

The debate over the U.S. debt ceiling is quickly heating up. If the debt limit is not lifted before the deadline, what does this mean for markets and ...

The Markets: Volatility, Earnings, and European Equities

28 Apr 2023

Contributed by Lukas

Discussing US equity volatility hitting a low, the takeaways from US and European earnings, and what to expect in next week’s Fed and ECB meetings, ...

Navigating the trillion dollar path to a more sustainable economy

27 Apr 2023

Contributed by Lukas

The path to net zero has never been more complicated as businesses and governments look to balance short-term energy demands with long-term sustainabi...

How Porsche CEO Oliver Blume is driving innovation

25 Apr 2023

Contributed by Lukas

The initial public offering of luxury car manufacturer Porsche last fall was a bright spot in an otherwise difficult equity market. So how has the aut...

The Markets: A ‘bulletproof’ stock market?

21 Apr 2023

Contributed by Lukas

Breaking down recent bank earnings, China’s GDP, European markets and the tech sector, Tony Pasquariello, global head of hedge fund coverage for Glo...

Navigating the ‘perfect storm’ in commercial real estate

18 Apr 2023

Contributed by Lukas

The recent stress in the banking sector appears to have abated but there are knock-on effects that are pressuring a key corner of the economy: commerc...

What’s on the minds of the world’s largest investors?

14 Apr 2023

Contributed by Lukas

As one of the largest investors in the world, insurers represent about $30 trillion in assets — which means their investment decisions can have an o...

All about bank(panic)s and the implications for policy

11 Apr 2023

Contributed by Lukas

The recent banking turmoil in the U.S. and Europe triggered by the failure of Silicon Valley Bank — the largest bank failure since the 2008 financia...

How Europe’s tech startups are continuing to innovate in the current market

06 Apr 2023

Contributed by Lukas

From artificial intelligence and machine learning, to virtual reality and wearable technology, disruptive tech has been at the forefront of markets an...

What’s driving the surge in shareholder activism activity?

04 Apr 2023

Contributed by Lukas

Even the world's largest companies aren't immune to activist investors. With the management teams of large-cap companies attracting the attention of a...

Bain Capital’s Stephen Pagliuca on private equity and the Boston Celtics

31 Mar 2023

Contributed by Lukas

In this episode of Exchanges at Goldman Sachs: Great Investors, Stephen Pagliuca, senior advisor at Bain Capital, speaks with Alison Mass, chairman o...

Navigating the new geopolitical and technology landscape

28 Mar 2023

Contributed by Lukas

In an era of geopolitical instability and economic uncertainty, what are the implications for companies and investors? In the latest episode of Exchan...

What the banking turmoil means for investors’ portfolios

22 Mar 2023

Contributed by Lukas

Since the failure of Silicon Valley Bank, investors are closely watching how stress in the financial sector is spreading through markets and the econo...

The impact of bank failures on markets and the economy

15 Mar 2023

Contributed by Lukas

The collapse of Silicon Valley Bank and Signature Bank has sparked broader concerns about the health of the banking industry. So what is the significa...

How much higher can bond yields go?

07 Mar 2023

Contributed by Lukas

Stronger economic data has recently raised concerns that inflation is likely to remain stickier than expected. In the latest episode of Exchanges at G...

How 3 retail CEOs are navigating today’s economic landscape

03 Mar 2023

Contributed by Lukas

How are retailers navigating an environment of slowing consumer demand, high interest rates and rising prices? In the latest episode of Exchanges at ...

Is it time to invest in emerging markets?

28 Feb 2023

Contributed by Lukas

As the global economic backdrop continues to improve, is it time to invest in emerging markets? In the latest episode of Exchanges at Goldman Sachs, ...

Goldman Sachs CEO David Solomon on the economy, markets and the firm’s performance

24 Feb 2023

Contributed by Lukas

In a special episode of the Exchanges at Goldman Sachs podcast, Goldman Sachs Chairman and CEO David Solomon shares his views on the macroeconomic env...

Are we on the cusp of a generative AI revolution?

21 Feb 2023

Contributed by Lukas

As new artificial intelligence technologies, such as ChatGPT, capture the public’s imagination, are we at a tipping point in technological advanceme...