goldman sachs

goldman sachs

For Deutsche Bank, This Is The "Brexit Panic" Signal In Today's Election

Deutsche Bank has advised its sales and trading team to immediately report to their trading desks should Trump wins Pennsylvania and Michigan. So if Trump be is reported to be leading and/or winning the two key battleground states at 8pm, expect all volatility hell to break loose.

Wikileaks Election Day Special: Part 35 Of Podesta Emails Released

Yesterday, when Wikileaks released its second dump of Podesta emails, the so-called Part 34, we assumed that was it. We were wrong. Moments ago Wikileaks released an "election day special", dumping another 1,793 emails in Part 35 of its ongoing release, bringing the total to 58,375, and one which we can only assume is the definitive final release of Podesta emails.

Frontrunning: November 8

  • At last, America decides (Reuters)
  • America’s Voters Finally Get Their Day (BBG)
  • This Election Has One Sure Thing: A More Dysfunctional Congress (BBG)
  • Control of the Senate Goes Down to the Wire (WSJ)
  • 2016 Election Day: Live Results and Analysis (WSJ)
  • Dollar Volatility Drops as Clinton Leads in Final Election Poll (BBG)

Goldman Warns Of "One Of The Largest VIX Dislocations On Record"

The VIX has increased on nine consecutive sessions, a new record; and the term structure of SPX implied volatility is now steeply inverted, pricing in a potential wide swing over election week. However, as Goldman Sachs notes, although the VIX is up, the market hasn’t actually been moving that much and that has led to one of the largest VIX dislocations on record. In fact, VIX has overshot its typical beta to the SPX by 5 vol points.

The Establishment Will Get Its "F**K You" No Matter Who Wins

"...I go along with the argument advanced by others that it would probably be better for Hillary to win, because that way the right people (the gang already in power) will be blamed for the descent into the maelstrom and will be expeditiously swept away..."

Goldman Fears "Persistent Headwind To Growth" As State/Tax Revenues Tumble

The latest confirmation that the US economy continues to deteriorate comes not from the Federal Government but from state-level data, where year-over-year growth in state tax revenues slowed dramatically in the last two quarters. As Goldman notes, this has subtracted an average of 0.25 percentage points from GDP growth, raising the question of whether municipal finances could again be a persistent headwind to growth.