Latest Interviews
Showing 1–4 of 4 transcripts.
Clear all filters- Goldman Sachs15 min
Emerging Markets: Stirred, But Not Yet Shaken
Kamakshya Trivedi, Alison Nathan
Goldman Sachs analysts observe that risky assets recently reversed gains following an Iran conflict-driven oil spike, shifting market expectations from rate cuts to an inflation shock that has strengthened the US dollar through favorable terms of trade. While traditional hedges have underperformed, the firm maintains a positive outlook for emerging market equities, projecting 10–12% upside driven by robust earnings and structural trends like the AI semiconductor supply chain rather than multiple expansion. This bullish stance assumes the energy crisis remains short-duration; however, a prolonged conflict threatening physical supply shortages could force a re-evaluation of growth estimates and trigger significant market damage.
- Goldman Sachs20 min
Making Sense of Weak Job Growth Alongside Solid GDP Growth
Despite tariffs reaching eight times 2019 levels and a three-week government shutdown subtracting from growth, U.S. GDP resilience is maintained by a depreciating dollar, stable stock markets, and a productivity rebound to historical averages. Core inflation is projected to normalize toward the 2% target as supply chains recover, supporting the Federal Reserve's current expectation of three consecutive 25-basis-point rate cuts through the end of the year. While immigration drops have constrained labor supply and AI adoption remains limited to specific sectors, policymakers anticipate maintaining a moderate expansion path unless post-shutdown data reveals significant deviations from current forecasts.
- Goldman Sachs16 min
The Surprising Implications of an Aging Population
Global median ages are rising rapidly across both developed and emerging economies as increased longevity and declining fertility rates drive a peak in the world population around 2075. This demographic shift presents a projected 15% decline in the working-age ratio for developed nations, though the immediate economic crisis is mitigated by a 12% extension in effective working lives since 2000. Consequently, markets are adapting not through a simple shift to elderly-specific goods, but via a prolonged lifecycle consumption model where society extends all life stages while boosting female labor participation.
- Goldman Sachs18 min
Copper is the New Oil
Goldman Sachs identifies copper as the "new oil" essential for global net-zero targets, projecting that green economy adoption will drive demand to nearly 6 million tons by 2030 while creating a structural deficit of over 8 million tons. Despite price forecasts reaching $15,000 per ton by 2025, major mining producers remain hesitant to initiate new greenfield projects due to prolonged permitting, high costs, and a conservative post-2010 balance sheet strategy. Consequently, the market faces an irreversible supply crunch in the mid-2020s that will likely decouple copper prices from traditional Chinese cycles and trigger a sustained multi-year bull market.