Jan Hatzius

Wall Street's Take On The Fed Minutes: June, Sept. In Play; BS Unwind May Come Sooner

While the dollar and TSY yields both dropped to session lows shortly after the FOMC announcement hit as traders focused on the Fed disclosure that FOMC voters thought it prudent to await evidence an "economic slowdown is transitory" suggesting the committee still wanted to hike rates but was willing to wait for the certainty of data,  Goldman's disagreed and according to a just released assessment by Goldman's Jan Hatzius, the statement was more hawkish than perceived by the market.

Presenting Goldman's "Worst-Case Survival Guide To Uncertainty, Taxes And Trade"

The juxtaposition of rising policy uncertainty vis a vis declining fear in risk assets raises "cause for pause" according to Goldman, which in its latest Portfolio Manager's Toolkit lays out the following "worst-case survival guide to uncertainty, taxes and trade" to help investors navigate once volatility comes back with a bang.

Goldman Asks If Yellen Has Lost Control Of The Market, Warns Of Fed "Policy Shock"

"Despite two rate hikes and indications of impending balance sheet runoff, financial conditions have continued to ease over the past six months. Does this mean that 1) monetary policy has lost its ability to affect financial conditions or 2) Fed officials just need to deliver more rate hikes if they want to bring about an FCI tightening?"

Still Confused About Trump's 1-Page Tax Plan? Goldman Explains It All

Since at its core, yesterday's 1-page "tax plan" was a Goldman creation, who better to explain what Trump offered than Goldman Sachs itself. Here is Goldman with an elaboration of the handful of bullet points contained on the much anticipated one page, extended to 6 pages.

Goldman Warns 1-In-3 Chance Of Government Shutdown In May

Goldman's Jan Hatzius believes the odds of a government shutdown next week are fairly low, but rise to around one in three if the debate extends into May. A shutdown at the start of the next fiscal year, in October, is a greater risk in their view.

These Are The Four Political Risks Keeping Goldman Up At Night

With political uncertainty near record highs (but equity market uncertainty near record lows), Goldman's Jan Hatzius analyzes the four biggest political risks receiving the most attention from market participants (and stand to create the most chaos if the priced for perfection market is disappointed).

Weekend Reading: Just Buy Everything

“It is well that the people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning.– Henry Ford