PremiumGoldman Warns 'The Fed Is Just A Passenger', AI CapEx Is Driving Rates Now
Three of Goldman Sachs' top cross-asset class traders just said the quiet part (about the AI bubble) out loud in a YouTube clip...
The bank’s 'The Macro Call' discussion - featuring Mark Wilson (host, Head of Equities Franchise Sales), Jan Scheffel (Global Co-Head of Short Term Macro Trading), and George Cole (Head of European Rates Strategy) - is not another Goldilocks 'AI will raise productivity someday and everything will be awesome' slideshow. It is an admission that the financing of the AI build-out is already a structural force keeping global yields elevated.