Goldman Sachs The Markets
Buy the dip in US equities?
Mar 7, 2025
Rich Privorotsky, Head of European One Delta Trading at Goldman Sachs Global Banking & Markets, offers sharp insights on the current volatility in U.S. stocks and whether it's a buying opportunity. He explains how policy uncertainty and recent payroll data are impacting investor sentiment. The discussion also covers the rise in German bond yields and how Europe's fiscal changes might present new investment angles. Listeners will gain a global outlook on market trends and potential recovery opportunities amidst uncertainty.
08:49
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Quick takeaways
- US stocks are facing volatility due to rising policy uncertainty and weakening consumer confidence, raising questions about their buying potential.
- A shift towards increased spending in Germany is benefiting European equities, suggesting a divergence in investment strategies between US and European markets.
Deep dives
Market Volatility and Policy Uncertainty
U.S. stocks are experiencing increased volatility due to rising policy uncertainty and concerns about economic growth. While the latest payroll numbers were better than worst-case scenarios, there are underlying weaknesses, especially regarding underemployment rates. The mix of spending cuts and trade barriers from the government is negatively affecting consumer confidence, contributing to market jitters as evidenced by the S&P's fluctuating performance. Additionally, the technology sector is facing challenges with significant companies seeing declining valuations amid rapid innovations, particularly from China, leading to even greater market instability.
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