Market Insights

MARKET STRATEGIST INSIGHTS 1 of 2

PORTFOLIO MANAGER INSIGHTS 2 of 2

Market Strategy

Complex markets can be difficult to decipher. We provide investment professionals and their clients with a global perspective to help explain the issues and trends affecting their portfolios.

Chart of the Week

Onward and Upward

EM earnings are expected to outperform their DM peers in 2021 due to the combined tailwinds of cyclicality, commodity exposure, China sensitivity, and pockets of deep value. Even so, we believe that repeatable alpha generation in emerging markets comes from investing in companies rather than countries as the opportunity set remains highly diverse.

Source: GSAM and GS Global Investment Research.

As of October 31, 2020. ‘EM’ refers to the MSCI Emerging Markets Index. ‘US’ refers to the S&P 500 Index. ‘Europe’ refers to the Euro Stoxx 600 Index. ‘Cumulative’ refers to the aggregate earnings impact from 2020 and 2021 combined

Market Know-How

Breaking Out from the Outbreak

Economic evidence suggests that through relatively low-cost face masks and targeted physical distancing measures, economies can recuperate while vaccines and treatments are developed. From an investment perspective, we think this unprecedented moment validates the lessons of strategic discipline, risk management and quality.

Edition 3 Themes

1From the great reset.

2Change in leadership.

3When defense is offense.

4Lower for longer.

5 Then and now.

6Meet in the middle.

GSAM Connect

December 01, 2020

Need Income? Consider Short-Duration Bonds

US interest rates are pegged at zero and expected to remain there through 2023. Yet there’s still trillions of dollars in cash sitting on the sidelines. We think there may be a better way to put some of that money to work.

November 2020

Credit Markets and Tail Risks

Resolution of US election event risk and encouraging vaccine efficacy news boosted risk sentiment in November. We believe search-for-yield motives, central bank buying, a slowdown in new issuance and a vaccine-driven economic recovery from the second half of next year will support credit markets into 2021.

November 18, 2020

Portfolio Diversifiers: How Did They Hold Up?

Today’s low rates and high equity valuations have sparked a lively dialogue among investors about developed-market investment grade debt. Is it, many wonder, still an effective hedge against equity risk? Or might other asset classes do a better job?

Stay posted on the latest market developments and key themes for your portfolios and practices

More Market Strategy

December 2020

Special Edition: 10 for 2021

Monthly recap of global markets, thought leadership, and investment themes from across Goldman Sachs.

September 2020

Breaking Out from the Outbreak

View more perspectives on the latest market developments and trends

Stay Informed and Be Ahead of the Curve

MARKET MONITOR

Weekly views from senior Goldman Sachs economists and strategists

MARKET KNOW-HOW

Triannual insights on market conditions and timely investment ideas

MARKET PULSE

Monthly market commentary coupled with insights on portfolio construction

GSAM CONNECT

Posts on the latest market developments and key themes for your portfolios

MANAGE SUBSCRIPTIONS

Asset Class Views

Access the latest views from our product teams on macro strategies and browse insights by key topics, such as equities, fixed income, money markets and alternatives.

How High to Hike

Our portfolio manager discusses how machine learning interprets investor sentiments and extracts topical subjects

LEARN MORE

November 2020

Global Fixed Income Weekly

Each week the Fixed Income team releases its views on macro strategies including duration, country, cross macro and currency, and sector strategies such as securitized debt, corporate credit and emerging markets debt.

GOLDMAN SACHS RESEARCH

Follow trends in the global economy, including policy issues and analysis of economic development from Goldman Sachs Global Investment Research.