Goldman Sachs: The article below is from our BRIEFINGS newsletter of 31 March 2020 More than two months after imposing quarantines to battle the COVID-19 epidemic, China is on the economic road to recovery. Shao Ping Guan, head of the China Equity team and lead portfolio manager of Goldman Sachs Asset Management’s China Equity strategies, shared…
After a strong relief rally, the S&P 500 (SPX) once again suffered from selling pressure and ended in the red for the week. The benchmark index fell 2.08% on the week and is down 22.97% year-to-date. By and large, this was to be expected and largely what we presumed the most likely outcome for the…...
Howard Stanley Marks (born April 23, 1946) is an American investor and writer. He is the co-founder and co-chairman of Oaktree Capital Management, the largest investor in distressed securities worldwide. In 2019, with a net worth of $2.2 billion, Marks was ranked 370th on the Forbes 400 rankings of the wealthiest Americans. Marks is admired in the investment community for his…
Welcome to this week’s State of the Markets with Wayne Nelson and Seth Golden. Please click the following link to review the SOTM video. COVID-19 continues to plague markets and has taken the economy as a prisoner until further notice, with society practicing social distancing. Equity markets have expressed a relief rally off of capitulatory lows in late-March and have since…...
On Tuesday the situation in Italy consolidated with growth in net active cases for Italy as a whole staying low at 3% (Monday 2%). Despite this we expect the recovery to strengthen significantly over the coming days, which should bring Italy to a peak this week. In Germany, as anticipated, net active cases returned to…...
It was a rather volatile day for traders Tuesday, which “turned” out to live up to its “trade name”, Turn Around Tuesday. From Monday’s exuberance to Tuesday’s doldrums, implied volatility rolled lower despite the rather outsized level of intraday, realized volatility in the market as gauged by the total movement in the S&P 500 (SPX).…
If you are bullish on markets near-term, Monday’s market action likely increased your bullishness. The major indices all rose more than 3%, led by the tech-heavy Nasdaq (NDX), which is something we desired to see in order to aid in our belief in the 10% rally in the benchmark S&P 500 (SPX) from the previous…
Today’s Daily Market Dispatch is a condensed version of our weekly Research Report (Published Sundays). If you appreciate the analysis, articulations and detailed content, upgrade to our Contributor Membership level and access our full-scale Research Reports & State of the Market videos weekly. Thank you, be safe and enjoy! Bear markets are never easy; they…
Over the weekend the COVID-19 situation improved all the EU5 countries. Not only did the growth in net active infection rate fall in all countries, but new cases at least stabilized across the region. In particular Italy resumed the fall in the growth of net active cases, reaching 5% on Sunday, and new cases started…...
Services get pummelled in March; worse is to come Global Economics Update 24 March 2020 WRITTEN BY SIMON MACADAM The March Flash PMIs for advanced economies were dreadful. The composite PMI for DMs plummeted to a level just shy of its all-time low. With the lockdowns only getting underway, worse will come in April. Today’s…
