Goldman Sachs

World's Most Powerful Bank Issues As Major Warning

"Little by little, a few prominent voices in finance have started to express concerns about the state of financial markets...In fairness, no one has a crystal ball, not even the CEO of Goldman Sachs. But if these guys are telling the world that the market is overheated, you can probably imagine they’ve already started selling."

Frontrunning: September 7

  • China agrees more U.N. actions needed against North Korea after nuclear test (Reuters)
  • Hurricane Irma kills eight on St. Martin (Reuters)
  • Trump’s Surprise Deal With Democrats Sets Up Christmas Showdown (BBG)
  • North Korea pledges 'powerful counter measures' against U.S.-backed sanctions (Reuters)
  • Why Florida Is Largely Insured by Companies You’ve Never Heard Of (WSJ)

Hurricane Irma Could Destroy Oil Demand

"The two storms’ impacts on the oil market could be drastically different... Irma’s effects on the energy sector would be felt pretty much only on the demand side of the equation. Florida has little to no supply-side infrastructure – negligible levels of oil production and refining capacity. "

Dow Jones Changes "Hoax" Index Divisor For First Time In 2 Years

For the first time in two years, the owners of the Dow Jones Industrial Average have changed the benchmark’s divisor, the number used to determine how moves in the share prices of individual Dow components affect the level of the index... "Is the number of points that the Dow Jones now gives us a truth or a fictional truth?"

Frontrunning: September 6

  • Hurricane Irma makes landfall in the Caribbean (Reuters)
  • Social and Economic Polarization in U.S. Worsens, Poll Finds (WSJ)
  • Trump Risks GOP Civil War Pushing Congress for ‘Dreamer’ Bill (BBG)
  • Michael R. Bloomberg: Trump’s DACA Failure Is Congress’s Opportunity (BBG)
  • Array of Threats Stir Up Markets (WSJ)

The Three Faces Of Bitcoin

"Bitcoin to me is all positiveCould it go to $100,000. I guess. Could it go to $0? Yes. Keep both numbers in mind."

Goldman Issues Two Different Price Targets On Gold In The Same Day

Goldman 1: "We are maintaining our end-of-year gold price forecast of $1250/toz barring a substantial escalation in North Korea."
Goldman 2: "Gold has targets in the area of 1,375-1,380. Target/turn neutral at 1,375-1,380. Add on pullbacks towards 1,300."