Goldman Sachs Exchanges
466 episodes - English - Latest episode: 15 days ago - ★★★★ - 769 ratingsIn each episode of "Goldman Sachs Exchanges," people from the firm share their insights on developments shaping industries, markets and the global economy.
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Episodes
What’s Ahead for the U.S. Dollar?
April 16, 2021 12:07 - 7 minutesZach Pandl, co-head of foreign exchange strategy for Goldman Sachs Research, explains why he’s still long-term bearish on the greenback.
Whenever, Wherever: Seamless Commerce is the Future of Retail
April 13, 2021 17:52 - 19 minutesJennifer Davis and Vishaal Rana of the Investment Banking Division discuss the fate of brick-and-mortar retail locations and why the seamless omnichannel experience is the future of consumer retail.
What’s Behind the Record Level of Equity Issuance?
April 09, 2021 14:55 - 12 minutesGoldman Sachs’ Benny Adler, co-head of the Americas Franchise Trading team, explains the supply-and-demand dynamics behind the “unprecedented’ amount of equity issuance.
Top of Mind: Reflation Risk
April 08, 2021 20:10 - 25 minutesWith fiscal stimulus and accommodative monetary policy buoying the U.S. economic recovery, prominent economists from former Treasury Secretary Lawrence Summers to former IMF Chief Economist Olivier Blanchard have raised concerns that the U.S. economy could be headed for overheating and inflation. In the latest episode of Exchanges at Goldman Sachs: Top of Mind, host Allison Nathan weighs these reflation risks in conversations with the firm’s chief economist Jan Hatzius and GS Research’s senio...
Outlook for Equity Markets
April 06, 2021 20:29 - 18 minutesWith valuations and rising interest rates, Goldman Sachs' Brett Nelson, head of tactical asset allocation for the Investment Strategy Group, discusses the outlook for U.S. equity markets.
A Guide to Bubbles and Why We Are Not in One
March 30, 2021 14:51 - 16 minutesA new report from Goldman Sachs Global Investment Research examines the history of financial bubbles and the qualifications for what defines one. Peter Oppenheimer, chief global equity strategist, discusses how today’s strong equities performance may have elements that resemble a bubble, but looks at other factors that argue against that assessment.
How Supply-Chain Disruptions Are Impacting Inflation
March 26, 2021 15:00 - 9 minutesAs supply-chain disruptions cause delays and higher prices, Global Investment Research’s Joseph Briggs explains the impact on inflation and the rates market.
Special Episode: What the American Rescue Plan Means for the Economy, Markets, Corporations and Investors
March 23, 2021 19:20 - 36 minutesIn this special episode, four leaders across Goldman Sachs—Alec Phillips of Goldman Sachs Research, Amelia Garnett of Global Markets, Susie Scher of the Investment Banking Division, and Ashish Shah of the Asset Management Division—discuss what the $1.9 trillion American Rescue Plan means for the economy, markets, corporations and investors. Recorded March 17, 18, and 22, 2021.
The State of U.S. Corporate Pensions
March 19, 2021 17:05 - 8 minutesRising interest rates in 2021 have bolstered the funding status of corporate defined pension plans to their highest levels in years. Goldman Sachs Asset Management’s Mike Moran explains how pensions plans have fared in 2020 in his latest report as well as his outlook for this year.
The Case for Investing in Black Women
March 16, 2021 21:28 - 33 minutesIn this episode, Gizelle George-Joseph of Goldman Sachs Research discusses the staggering gaps Black women face across a range of economic measures—including wealth, earnings, and access to healthcare—as outlined in her team’s recent Black Womenomics research report. Next, David Solomon, Chairman and CEO of Goldman Sachs, and Margaret Anadu of the Asset Management Division discuss the firm’s new One Million Black Women initiative. Then, Melissa Bradley of 1863 Ventures discusses how her work ...
Higher Rates Unlikely to Derail the US Housing Market Strength
March 12, 2021 13:55 - 11 minutesMarty Young of Goldman Sachs Research discusses his team’s new report on the US housing market, one of the most rate-sensitive sectors of the US economy, and why he expects house price appreciation to continue to remain positive even in the event of an interest rate shock.
How Hedge Funds are Navigating a Volatile Market
March 09, 2021 18:30 - 16 minutesDiana Dieckman and Freddie Parker of Prime Service within Goldman Sachs’ Global Markets Division talk about the state of the hedge fund industry and the current sentiment among fund managers and allocators.
Markets Update: Cryptocurrency Trading
March 05, 2021 14:34 - 9 minutesMathew McDermott, head of Digital Assets for Goldman Sachs’ Global Markets Division, discusses the cryptocurrency trading environment for institutional investors.
The Short and Long of Recent Volatility
March 03, 2021 14:00 - 26 minutesThe volatile start to 2021—with some heavily-shorted stocks unexpectedly skyrocketing in late January—seemed to have subsided. But with some of these stocks again on the rise, we ask what factors caused this volatility, how likely it is to repeat, what could prevent this, and what it signals about, or for, markets. Allison Nathan, creator and editor of the firm’s Top of Mind report, turns to former SEC Chair Arthur Levitt, Wellington’s Owen Lamont, and Goldman Sachs’ co-head of Global Prime S...
How Healthcare CIOs Are Investing Capital Through a Public Health Crisis
March 02, 2021 13:58 - 26 minutesPaget MacColl, co-head of the Americas Institutional Client Business within Goldman Sachs Asset Management, shares takeaways from GSAM’s annual healthcare diagnostic, which surveys CIOs of nonprofit healthcare organizations and hospital systems. MacColl is joined by Stefan Strein, chief investment officer for the Cleveland Clinic, who talks about managing a portfolio through a public health crisis and why he’s particularly excited about the investment opportunities in tech and ESG.
How Small Businesses Are Faring Entering Year Two of the Pandemic
February 26, 2021 11:00 - 27 minutesTo start the episode, Joe Wall of Goldman Sachs’ Office of Government Affairs gives an overview of survey results from nearly 1,300 Goldman Sachs Small Businesses participants who answered questions about PPP funding, access to capital, affordable healthcare, the personal toll of COVID-19, and more. Then, two graduates of the Goldman Sachs 10,000 Small Businesses program, Brent Reaves of Smokey John’s Bar-B-Que in Texas and JoEllen Hockenbrough of Providence Power Yoga in Rhode Island, share ...
Digital Transformation and the Future of Software
February 23, 2021 14:01 - 16 minutesKash Rangan, lead software analyst for Goldman Sachs Research, talks about how the pandemic has accelerated investment in the software sector and the key opportunities that lie ahead.
Markets Update: Inflation and Equities
February 19, 2021 13:54 - 14 minutesPeter Oppenheimer, Goldman Sachs’ chief global equity strategist and head of Macro Research in Europe, talks about why the changing mix of policy support in this cycle suggests a possible inflection point towards a more reflationary environment.
Big, Bold, Strategic Moves: The 2021 M&A Outlook
February 16, 2021 20:48 - 13 minutesStephan Feldgoise and Mark Sorrell, co-heads of global mergers & acquisitions in Goldman Sachs’ Investment Banking Division, discuss the key drivers behind historic levels of M&A activity, their positive outlook for dealmaking in 2021, and the resurgence of cross-border transactions.
The Outlook for Airlines in 2021
February 12, 2021 14:10 - 12 minutesCatie O’Brien of Goldman Sachs Research talks about her outlook for the airline industry in 2021 and why her team is forecasting an uptick in demand in the second half of the year.
2021 Investment Outlook: “US Resilient”
February 09, 2021 15:11 - 21 minutesSharmin Mossavar-Rahmani, Chief Investment Officer for Goldman Sachs Private Wealth Management, discusses her team’s investment outlook for 2021 and why she is telling clients to stay invested. “Our recommendation of US preeminence and staying invested has served our clients well,” Mossavar-Rahmani says. “People might think that those two themes have outlived their value, and our message is, no, continue with that theme.”
Markets Update: The Rise of Retail Investing
February 05, 2021 14:37 - 12 minutesJoe Duran, head of Personal Financial Management, a Goldman Sachs company, discusses the rise in retail investing and what it means for individual investors’ portfolio strategies.
Special Episode: The Rise of Retail Investing and Its Impact Across Market Participants
February 04, 2021 20:03 - 23 minutesIn this special episode, four leaders across Goldman Sachs—Raj Mahajan of the Global Markets Division, John Marshall of Goldman Sachs Research, Lizzie Reed of the Investment Banking Division, and Greg Tuorto of Goldman Sachs Asset Management— discuss the historic rise of retail investing and its profound implications for market participants.
The IPO SPAC-Tacle
February 02, 2021 13:45 - 28 minutesWith the strength of the IPO market and the surge in IPOs via SPACs continuing into 2021, host Allison Nathan, creator and editor of the firm’s Top of Mind report, asks experts whether or not these trends are sustainable. She speaks with Goldman Sachs’ head of Global Equity Capital Markets, David Ludwig, Professor of Finance at the University of Florida, Jay Ritter, and Professor of Business and Law at Stanford Law School, Michael Klausner.
Markets Update: January’s Record Inflows and Retail Trading Boom
January 29, 2021 13:17 - 14 minutesScott Rubner of Goldman Sachs' Global Markets Division recaps historic inflows into global equities in January and talks about the ongoing retail trading phenomenon and what it means for markets.
France’s Economic Environment for 2021
January 26, 2021 18:57 - 11 minutesPierre Hudry, head of Goldman Sachs' Paris office, talks about the landscape in France for both small businesses and large corporations as the economy recovers from the pandemic.
Goldman Sachs CFO Stephen Scherr on 2020 and How the Firm is Tracking Against Its Goals
January 22, 2021 18:57 - 34 minutesOne year after Goldman Sachs’ first-ever Investor Day, Stephen Scherr, the firm’s Chief Financial Officer, provides an update on how the firm is tracking against its goals and why 2021 will be a “year of execution.”
Policy Outlook for the Year Ahead
January 20, 2021 14:18 - 16 minutesAlec Phillips, chief political economist for Goldman Sachs Research, talks about the policy outlook for the year ahead.
Markets Update: Emerging Markets in 2021
January 15, 2021 14:29 - 5 minutesJennifer Roth of Goldman Sachs' Global Markets Division gives a quick update on why investors have been turning to emerging markets amid the global backdrop of low interest rates.
Companies Continue to Turn to SPACs for Greater Flexibility
January 12, 2021 16:21 - 18 minutesOlympia McNerney of Goldman Sachs’ Investment Banking Division talks about the continued momentum behind SPACs as an alternative path for companies to raise money in the public markets.
Markets Update: 2021 Global Growth Outlook
January 08, 2021 21:11 - 24 minutesAs part of a client call hosted on January 8th, Jan Hatzius, Goldman Sachs’ chief economist, talks about why his team continues to forecast above-consensus growth for 2021, despite the weak US jobs report for December.
What’s Included in the $900 Billion US Stimulus Package?
December 21, 2020 21:08 - 12 minutesJoe Wall of Goldman Sachs’ Office of Government Affairs explains what’s included -- and what’s not – in the US’ second stimulus package of 2020. Wall also talks about other policy priorities that investors are watching for in the new year. This podcast was recorded on the morning of December 21, 2020.
Markets Update: Financial Services Outlook
December 18, 2020 13:00 - 11 minutesRichard Ramsden, business unit leader of the Financials Group for Goldman Sachs Research, provides an update on the financial services industry and the market backdrop going into 2021.
The Outlook for a Commodities Bull Market in 2021
December 15, 2020 21:58 - 16 minutesJeff Currie, head of Commodities Research for Goldman Sachs Research, talks about why his team is bullish on commodities for 2021.
Markets Update: Looking Back on 2020’s Roller Coaster Ride
December 11, 2020 12:00 - 15 minutesDrew Pavlovich of Goldman Sachs’ Consumer and Wealth Division recaps a historic year in financial markets and talks about how clients are positioning their portfolios going into 2021.
Gregg Lemkau on How Investment Banking has Changed in his 28 Years at Goldman Sachs
December 08, 2020 14:26 - 17 minutesGregg Lemkau, co-head of the Investment Banking Division, reflects on how the industry and the firm have changed – and stayed the same – since he joined Goldman Sachs in 1992.
Markets Update: What Investors Are Watching Going into Year-End
December 04, 2020 14:46 - 10 minutesMoran Forman of Goldman Sachs’ Global Markets Division gives her take on how institutional investors are viewing market pricing and volatility going into the last few weeks of the year.
November Wrap: Record Inflows into Global Equities
December 01, 2020 13:45 - 17 minutesScott Rubner of Goldman Sachs' Global Markets Division breaks down the record-setting November in equity markets and talks about investor sentiment going into year-end.
Asia-Pacific Economic Outlook for 2021
November 24, 2020 19:43 - 10 minutesAndrew Tilton, chief Asia-Pacific economist for Goldman Sachs Research, talks about his team’s economic outlook for Asia-Pacific in 2021, and why they’re forecasting above-consensus growth. “We’re optimistic about growth in Asia-Pacific next year,” Tilton says. “We think the region could grow more than 7% in 2021. We’re optimistic about the world also – we think the world can grow about 6% – but especially optimistic about Asia-Pacific.”
Markets Update: The Bull Run in 2021
November 20, 2020 16:01 - 12 minutesGoldman Sachs Research remains confident about the global recovery in 2021, says Peter Oppenheimer, the firm’s chief global equity strategist. “We are optimistic for equity markets, risk assets and indeed the economy,” Oppenheimer says in this episode, and goes on to explain why he thinks the current bull market is transitioning from a “hope” phase to a “growth” phase. “As we move forwards in time, we do expect to see more even returns globally – less so than extreme outperformance of the US,...
Germany’s Economic Recovery
November 17, 2020 14:09 - 18 minutesWolfgang Fink, CEO of Germany and Austria for Goldman Sachs, talks about why Germany’s economy has weathered the pandemic better than that of many of its European neighbors and what’s ahead on the road to recovery.
Markets Update: A Biden Presidency, a Possible Vaccine and the Future of the S&P
November 13, 2020 16:04 - 11 minutesDavid Kostin, Goldman Sachs Research’s Chief U.S. Equity Strategist, looks back at an events-heavy week and what it means for markets in the days ahead.
Vaccine Progress and What’s Next
November 12, 2020 17:47 - 9 minutesSalveen Richter, lead analyst for the US Biotechnology sector in Goldman Sachs Research, talks about Pfizer’s clinical-trial results for its COVID-19 vaccine and the obstacles that still lie ahead for FDA approval and widespread distribution.
Client Call: Macro Outlook 2021
November 09, 2020 22:16 - 56 minutesJan Hatzius, Chief Economist for Goldman Sachs, and Alec Phillips, Chief Political Economist, discuss the outlook for economic recovery and the impact of the US election on global growth in 2021. This podcast leverages a Goldman Sachs Research client call, hosted the morning of November 9th, 2020.
Markets Update: Investors Feel “Relief” As Clarity Begins to Form Around US Election
November 06, 2020 19:43 - 10 minutesAshok Varadhan, global co-head of Goldman Sachs’ Global Markets Division, on how markets have moved in response to the US election and what investors expect in terms of economic recovery and policy agendas looking ahead.
Markets Update: Investors Anticipate Next Week’s US Election
October 30, 2020 11:17 - 10 minutesAmelia Garnett of Goldman Sachs' Global Markets Division talks about the key conversations she's having with investors ahead of the November 3rd election.
How Entrepreneurs are Leading Their Companies Through an Unexpected Year
October 27, 2020 13:41 - 36 minutesFrom the 2020 virtual Builders + Innovators Summit, Goldman Sachs' Kim Posnett speaks with two founders -- Irving Fain of Bowery Farming and Sheila Gujrathi of Gossamer Bio -- about their experiences leading through an unexpected year and the backdrop for entrepreneurship more broadly.
Markets Update: Election Outlook
October 22, 2020 18:00 - 11 minutesAlec Phillips, chief US political economist for Goldman Sachs Research, provides an update on investors’ expectations for the upcoming election on November 3rd.
An Update on the LIBOR Transition and Why It Matters for Wall Street and Main Street
October 20, 2020 10:24 - 18 minutesJason Granet, head of the firm’s LIBOR transition effort, gives an update on the timing and impact of the industry-wide transition away from the London Inter-bank Offered Rate (LIBOR).
Markets Update: Taking Stock of Year-to-Date Performance
October 16, 2020 17:24 - 9 minutesTony Pasquariello of Goldman Sachs' Global Markets Division gives an update on US equity performance and why 2020 has driven so much trading activity.