Market Insights

MARKET

INSIGHTS

EM Comeback

Why a little convergence in global growth could be good for Emerging Markets

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.

Market Know-How

Game of (Un)Knowns

A stabilizing macro backdrop, convergent growth, and late-cycle opportunity: each is a reason we do not see winter coming for investors. We believe that strategy will be key—we remain pro-expansion, yet pro-reality, attuned to the evolution of late-cycle conditions.

Edition 2 Themes

1Muni momentum.

2Clipping coupons.

3Sector dissector.

4Emerging opportunities.

5Coming of age.

Chart of the Week

Mind the Gap

The S&P 500 has soared to new highs while the 10-year Treasury yield continues to tread near recent lows. Historically, equities outperform as bond yields rise, but this relationship is experiencing greater disconnect as policy easing has led to rallies in both equity and bond prices. We believe the outperformance of higher-quality and defensive sectors suggests shared concerns across assets and less asymmetry than appears.

Source: Bloomberg and GSAM. As of July 11, 2019.

GSAM Connect

June 2019

Embrace the Staycation: Investing in the European “Everyday Economy”

We remain overweight US corporate credit as we expect policy support to elongate the US expansion, and we see value in pairing spread sector exposures with duration. This barbell approach to credit-rate positioning has supported performance during risk-off episodes this year.

June 2019

EM Viewpoints - The Age of Asia

A new superpower is emerging. Asia is becoming increasingly important in the global economy and we believe Asian equities are becoming too hard to ignore given the economic and growth fundamentals.

May 2019

Assessing The Impact of Tariffs on High Yield: As Much Art as Science

We believe US trade protectionism is a sector-specific story for the US High Yield corporate credit market but with limited direct implications. That said, indirect impacts such as lower consumer and business sentiment could dampen economic activity and cloud the outlook for credit markets.

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

More Market Strategy

July 2019

Monthly Market Pulse: July

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

December 2018

Pressure Points

Investors today face a market of pressure points. While markets may come under pressure in 2019, we are both confident in the continued global expansion and cautiously optimistic of late-cycle conditions.

View more perspectives on the latest market developments and trends

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

2018 Macro Chartbook: 3 Themes to Watch

July 2019

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.