Joshua Schiffrin
Showing 1–2 of 2 transcripts.
- Goldman Sachs27 min
Iran Ceasefire: What’s next for markets?
Tony Pasquariello, Joshua Schiffrin, Dominic Wilson, Josh
Markets have transitioned into a post-ceasefire phase where equity drawdowns were capped near 10% and earnings growth remains robust, despite oil prices shifting to a permanent $78–$80 level that creates a new inflation baseline. Central banks now face a dual mandate dilemma that likely forces policy stasis, while hedge funds outperformed traditional portfolios by capitalizing on AI-driven CapEx and commodity-exposed emerging markets. Strategic allocations favor maintaining downside hedges and holding core assets like the Nasdaq and U.S. dollar as geopolitical realignments in the Gulf States and U.S.-China relations drive continued volatility through year-end.
- Goldman Sachs23 min
Sentiment Shifts on AI Capex Spend
Tony Pasquariello, Joshua Schiffrin, Dominic Wilson, Josh
Global equity markets are diverging as overseas regions, particularly Japan and South Korea, surge to new highs while U.S. indices trade sideways amid intense skepticism regarding AI profitability and debt-fueled capital expenditure. This rally is driven by a structural expectation that artificial intelligence will ultimately induce disinflation, prompting investors to reallocate capital into non-U.S. assets even as the Federal Reserve holds rates steady through mid-year. Currency and bond markets are simultaneously adjusting to anticipated policy normalization, with a weakening U.S. dollar and steepening yield curves reflecting a consensus that growth in Asia will dominate the coming macro regime.