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

Same, Same But Different

The first Omicron case reported in the US rattled markets as the number of mutations appears greater than prior variants, causing concern around immune escape potential. Though uncertainty still exists around whether the combination of mutations will be synergistic or antagonistic, we believe vaccination will continue to serve as an effective tool to fight the virus.

Source: Co-variants.org. As of December 2, 2021.

Market Know-How

And Now For Something Completely Different

As the global economy begins to reopen we will discover what the new post-COVID-19 “normal” looks like. The next phase of the recovery may prove to be a paradigm shift: a move into a world of “completely different” macro and market relationships to those which we have been accustomed to in recent years. In this Market Know-How we explore how some of those factors may shape the investment landscape.

Edition 3 Themes

1Tax: Rates may move back to long-term averages

2Rates: Interpreting Rising Rates

3Inflation: Transitory or Sustained?

4Valuation: Sustainably higher valuations, realistically lower returns

5Digital Assets: A Growing But Speculative Market

GSAM Connect

November 30, 2021

Credit Check-In: Capital Allocation Trends

Themes from third quarter earnings results were similar to those we discussed in August: normalization and the effects of inflation and supply chain disruption. This month, we discuss how those themes have evolved and how they are impacting capital allocation trends.

November 23, 2021

Fixed Income Asset Allocation: A Well-Balanced Approach

A dynamic, opportunistic and balanced approach to asset allocation enables us to capture attractive risk premiums while ensuring resilience during risk-off market periods.

November 19, 2021

Rise in Inflation May Not Spell Trouble For Financial Assets

Investors often worry when inflation starts to rise as they view price pressure as negative for their investments. Learn more about why we think equities should remain the preferred asset class as we move into 2022.

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

More Market Strategy

November 2021

Monthly Market Pulse: November

Today’s market cycle is starting from a position of record low interest rates, elevated valuation, and high margins – implying a potential “fat and flat” market profile going forward, with lower longer-term returns and higher levels of volatility. We expect the global equity opportunity set to broaden, and see potential for non-US markets to narrow the gap in earnings and returns. However, opportunities will likely be increasingly alpha-oriented. In our view, areas of particular interest include digitization, de-carbonization, and innovation.

April 2021

Faster, Higher, Stronger

Some of the moves in fixed income markets this year— such as the sell-off in Treasuries—have been faster than anything we have seen in recent years, and bond markets may remain in a state of flux for the remainder of 2021. As a consequence, core fixed income allocations require risk-aware active management, and security selection in credit markets may become an increasingly differentiated source of returns.

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

December 2021

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.