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Sunday, March 7, 2021

Goldman Expects A 60% Drop In Q2 EPS, Much Worse Than Consensus

While Morgan Stanley continues to cheerlead some imaginary V-shaped recovery that is increasingly just in the heads of its research analysts who are running out of time to convince the bank's clients to buy everything the bank's prop desks have to sell (while pointing to the market's surge as if central bank manipulation in the…

Goldman Sees Ghost Of Dot Com Bubble As Baby Boomers Sell Stocks To Their...

Back in 2019 we posted on several occasions that a "conundrum" had emerged in the stock market: with equities hitting new all time highs, especially in the last quarter after the Fed relaunched QE to bailout a bunch of basis trading hedge funds under the pretext of saving the repo market, equity outflows soared to…

Goldman: The Default Cycle Has Started

Perhaps inspired by our recent articles showing that "Loan Defaults Hit 6 Years High" and "Bankruptcy Tsunami Begins: Thousands Of Default Notices Are "Flying Out The Door", Goldman writes this morning that with businesses shuttered and job losses mounting rapidly, "there is growing concern over the ability of borrowers to service their debt obligations and…

Goldman Quietly Cuts Q3, Q4 EPS Forecasts, Now “Values” Market Off 2023 Earnings

So much for the V-shaped recovery. With even Jerome Powell warning that the US economy won't fully recover until the end of 2021 (assuming no second infection wave; should that happen it's pretty much game over), Goldman has quietly gone from V to U, and in the penultimate paragraph of David Kostin's latest Weekly Kickstart…

Goldman Spots A Huge Problem For The Fed

Last week, the Treasury shocked the world when it announced that in the current quarter (the 3rd of the fiscal year), the US will need to sell a mindblowing, record $3 trillion (pardon, $2.999 trillion) in Treasurys to finance the US money helicopter. This, after selling $807 billion in the first half of the fiscal…

Goldman Sees Imminent “Momentum” Crash As All S&P Gains Come From Just 5 Stocks

With a third of companies having reported Q1 results so far, earnings season has proven to be neither a spoiler nor a catalyst, with modest market reaction to some truly horrific numbers as investors are now ready to ignore earnings until well into 2021 when a V or U-shaped recovery is expected to kick in.…

Goldman Was Furiously Buying Mortgage Bonds In The Days Before The Fed’s Massive Bailout

Goldman Sachs had itself one of those patented bouts of good luck that you only see on Wall Street - for one reason or another.  The investment banking giant reportedly was in the market buying up mortgage bonds during the panic selling that hit markets last month, ostensibly before the Fed came out and said…

Goldman CEO David “DJ D-Sol” Solomon Will Appear In Upcoming Season Of “Billions”

Goldman CEO David Solomon was called a Wall Street "trendsetter" for embracing his favorite hobby, DJing under the stagename "DJ D-Sol." Now, Solomon has once again found himself a step ahead of the curve: While millions of Americans open LetGo accounts, sign up for ride-share apps amid a desperate scramble to compensate for hours/wages lost…

“Stay Defensive… For Now” – Goldman Lays Out The 6 Conditions For A Market...

'Stay Defensive' says Goldman Sachs, macro markets are pricing in a global recession and right now that is appropriate. The sharp drawdowns over the past couple of weeks have meant that market-based benchmarks of cyclical growth or risk appetite are now more clearly at recessionary levels. Although some assets (the VIX, for instance) have seen…

Goldman Cuts Brent Forecast By $10 To $53, Sees Chinese Oil Demand Plunging By...

Just days after OPEC slashed its oil demand forecast as a result of the slowdown in China's economy due to the Covid-19, moments ago Goldman has doubled down on its bearish oil take and has cut its oil price target by $10 to $53 in Q1 through the end of the year, as a result…
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