Goldman Sachs

Frontrunning: August 5

  • Expected solid job gains seen as boost to economy (Reuters)
  • Oil prices slip as short-covering rally fizzles (Reuters)
  • Hillary Clinton’s Lead Over Donald Trump Widens to 9 Points, Poll Shows (WSJ)
  • Justice Department Officials Raised Objections on U.S. Cash Payment to Iran (WSJ)
  • Terrorist Suspects in Europe Got Welfare Benefits While Plotting Attacks (WSJ)

Futures, Global Stocks Rise As Oil, USDJPY Drops: All Eyes On The Jobs Report

With all eyes on today's jobs report, where consensus expects a 180K payrolls gain, European, Asian stocks and S&P futures all rise amid a surge in government debt as markets digest the BOE's "kitchen sink" easing for a second day. But please don't overthink it. In deja vu fashion, Bloomberg summarizes the action simply as "stocks rose around the world on speculation central bank stimulus measures will support the global economy." We've heard that just a few times before.

Frontrunning: August 4

  • Bank of England cuts rates for first time since 2009, restarts bond purchases (Reuters)
  • Obama administration denies Iran cash payment was a ransom (Reuters)
  • Mike Pence Endorses Paul Ryan After Donald Trump’s Refusal (WSJ)
  • In slap at Trump, some wealthy Republicans campaign for Clinton (Reuters)
  • Clinton leads Trump by 17 points in NH (The Hill)

Full BOE Preview, And A Look At What UK Corporate Bond QE Will Look Like

  • Bank of England are widely expected to cut rates to 0.25% with a 25bps rate reduction fully priced in OIS markets.
  • The central bank is also touted to expected to announce further stimulus measures including the potential restart of its QE programme, the LFP Scheme, or corporate QE.
  • 2017 GDP growth forecast is likely to see a significant downgrade amid early signs of a deterioration in the UK economy, while GBP depreciation is likely to support 2017 Inflation forecasts.

What Will Hillary Do? Goldman Ranks Russia 'Best Olympian' Nation Ever (Over #2 USA)

While exceptional USA is heralded as savior of the world and "greatest nation ever in the history of earth," by Hillary Clinton, it appears Goldman Sachs disagrees... when it comes to The Olympics. From an 'efficiency' perspective,  controlling for how populous, rich (income per capita), and 'efficient' they are, Russia is the greatest olympic sporting nation (and ironically Greece is worst)...

Goldman Fined 0.1% Of Revenue For "Criminal Theft" Of Confidential Fed Information

Today the story of Goldman's theft of confidential Fed information got its closure, when the Fed announced that Goldman Sachs has agreed to pay $36.3 million to settle allegations by the Federal Reserve that it obtained and used confidential regulatory materials from the central bank two years ago. This amounts to 0.1% of the firm's 2015 revenue of $33.8 billion.

Trump Says It's Time To Sell Stocks, Warns Of "Very Scary Scenarios" For Investors

Now that we are exactly three months away from the November 8 election, if Trump wants to really boost his electoral chances, a market crash right now be certainly most welcome by his campaign. Which may be why Trump today urged his supporters to get out of equities as "interest rates set by the Federal Reserve are inflating the stock market" and warned of "very scary scenarios" for investors.