The chief economist of Goldman SachsPresident Jan Hatzius said on Monday the bank was cutting its probability of a US recession starting in the next 12 months to 20%, from a previous forecast of 25%. “The main reason for our cut is that recent data has strengthened our confidence that a recession will not be […]
Tag: Goldman Sachs
Goldman Sachs and Bank of America, the two sides of a mixed picture
Goldman Sachs and Bank of America, two of the large US banks that published balance sheets on Tuesday after the salvo of results for the sector last week, described a mixed outlook in terms of billing and profits. After the good news for the sector last week, Goldman Sachs, hit by a drop in results […]
Goldman Sachs forecasts copper supercycle driven by China’s recovery
Goldman Sachs expects a China-led commodity supercycle and capital flight from energy and investment markets this month, following concerns raised by the banking sector, the head of this sector at the US bank said. “As the losses mounted, they spilled over into commodities,” Jeff Currie, global head of commodities at Goldman Sachs, told the Financial […]
Credit Suisse faces a crucial weekend with its future up in the air
Credit Suisse Group AG is headed for a decisive weekend after some rivals were cautious in their dealings with the troubled Swiss entity and its regulators urged it to seek a deal with UBS AG. Credit Suisse’s chief financial officer, Dixit Joshiand their teams will hold meetings over the weekend to assess strategic scenarios for […]
Goldman Sachs raises Chinese GDP growth forecast to 6% in 2023
Goldman Sachs said on Wednesday it raised its forecast for China’s Gross Domestic Product (GDP) growth this year to 6% from 5.5%. The strong recovery in sectors sensitive to the COVID-19 pandemic and the general improvement in activity data in the first two months of the year support the improved outlook, Goldman Sachs said in […]
Goldman Sachs sees copper soaring above $11,000 a ton in 2023
This week, Goldman Sachs presented a bullish forecast for the copper market for 2023-24. The bank’s analysts expect the price to jump from the current US$8,500 to US$11,000 per tonne next year. Goldman Sachs’ good omens for the red metal also affect later seasons, with a thrilling forecast to break $12,000 a ton in 2024. […]
Goldman and Barclays forecast double-digit contraction for Russia
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Economists at Barclays Plc and Goldman Sachs Group Inc. lowered their forecasts for Russia and now see a double-digit contraction in output this year, the latest in a series of revisions incorporating the increased severity of Ukraine invasion sanctions. . Barclays published one of its most dovish outlooks yet, reversing its previous growth estimates and […]
Goldman Sachs, the first large investment bank to suspend activity in Russia
Updated on 03/10/2022 01:39 pm The investment bank Goldman Sachs announced Thursday that it is suspending its activities in Russia, thus becoming the first large Wall Street bank to announce a measure that has already been previously adopted by numerous multinational companies. “Goldman Sachs phases out its business in Russia in compliance with regulatory requirements”, […]
Goldman banker finally to stand trial after 1MDB scandal
The scene is repeated day after day: Roger Ng, a former banker from Goldman Sachs Group Inc., He leaves his Manhattan apartment and, wearing an electronic ankle monitor, heads downtown to build the case that could save him from jail. Nearly three years have passed since Ng landed in the United States to face federal […]
US banks rush to secure cheap financing
Updated on 01/24/2022 03:38 am the rush of Wall Street to sell bonds as borrowing costs rise looks set to continue, even as credit investors dwindle. Goldman Sachs Group Inc. outperformed five of the six largest banks in U.S raising nearly $29 billion this week, up from $24 billion in January 2021, which was double […]