Rich Privorotsky, Head of European One Delta Trading at Goldman Sachs, brings a wealth of knowledge about market dynamics. He discusses the rising volatility from US tariffs and Japan's fiscal policy amid shifting investor sentiments. Rich explains how bond sell-offs impact equities, and why gold is surging in response to central bank actions. He highlights a massive broadening trade away from mega-cap tech towards cyclicals and emerging markets, while pinpointing opportunities in Greek banks and small caps. Key events on the horizon include tech earnings and economic data.
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insights INSIGHT
Markets Fade Geopolitical Rhetoric
Markets tend to fade geopolitical rhetoric and price in pro-growth policy expectations.
Rich Privorotsky says investors have been paid to ignore rhetoric and favor a pro-market view ahead of midterms.
insights INSIGHT
Japanese Bond Moves Drove Volatility
Bond-market volatility, especially in Japan, drove this week's market anxiety more than trade rhetoric.
Rich highlights rising inflation expectations in Japan from fiscal expansion and tax changes as the key trigger.
insights INSIGHT
Bond Moves Tighten Financial Conditions
Rapid moves in bond yields tighten financial conditions and hit equities, especially long-duration names.
Rich explains bond impulses transmit globally and can force equity rotation and de-risking.
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Concerns over US tariffs and Japanese fiscal policy are inserting fresh volatility into markets. So how are investors positioning – and where are the best opportunities in global equities now? Rich Privorotsky, head of European One Delta trading in Goldman Sachs Global Banking & Markets, discusses with Chris Hussey.
The Markets