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☆ See the 95 executives Goldman Sachs tapped to join its exclusive partnership — a record high under David Solomon
▼ + stars: | 2024-11-07 | by ( Reed Alexander | ) www.businessinsider.com time to read: +11 min

Goldman Sachs on Thursday promoted 95 executives to its partnership. AdvertisementDavid Solomon, CEO of Goldman Sachs. The average tenure of the partner class is 16 years at Goldman Sachs. Marine Abiad, Global Banking & Markets, ParisBenny Adler, Global Banking & Markets, New YorkAdvertisementShahzad Ali, Controllers, New YorkAsh Ang, Global Banking & Markets, SingaporeLucia Arienti, Global Banking & Markets, LondonMatthew Armas, Asset & Wealth Management, New YorkAdvertisementPatrick Armstrong, Asset & Wealth Management, New YorkSebastian Ayton, Global Banking & Markets, ParisAmitayush Bahri, Asset & Wealth Management, LondonRob Barlick Jr, Asset & Wealth Management, MiamiAdvertisementDavid Bear, Global Banking & Markets, New YorkAmanda Beisel, Controllers, New YorkJeff Bernstein, Asset & Wealth Management, New YorkLyla Bibi, Global Banking & Markets, New YorkAdvertisementAnne Bizien, Global Banking & Markets, ParisTristan Blood, Asset & Wealth Management, LondonBrittany Boals Moeller, Asset & Wealth Management, AtlantaMarc Boheim, Asset & Wealth Management, LondonAdvertisementChris Bonner, Global Banking & Markets, New YorkKevin Boova, Global Banking & Markets, New YorkRelated storiesOonagh Bradley, Compliance, LondonTimothy Braude, Asset & Wealth Management, New YorkAdvertisementSteven Budig, Asset & Wealth Management, New YorkJacqueline Cassidy, Global Banking & Markets, New YorkSorubh Chandani, Asset & Wealth Management, New YorkPamela Codo-Lotti, Global Banking & Markets, New YorkAdvertisementBracha Cohen, Asset & Wealth Management, New YorkShaun Cullinan, Asset & Wealth Management, New YorkMarc d'Andlau, Global Banking & Markets, ParisAdam Davis, Global Banking & Markets, New YorkAdvertisementMatthew Doherty, Asset & Wealth Management, New YorkJason Eisenstadt, Global Banking & Markets, New YorkAshley Everett, Global Banking & Markets, New YorkAlex Finston, Global Banking & Markets, New YorkAdvertisementAlison Flood, Global Banking & Markets, New YorkArvind Giridhar, Global Banking & Markets, New YorkAshwin Gupta, Asset & Wealth Management, New YorkSonia Gupta, Global Banking & Markets, San FranciscoAdvertisementTerry Hagerty, Global Banking & Markets, New YorkRobert Hamilton Kelly, Asset & Wealth Management, West Palm BeachAxel Hoefer, Global Banking & Markets, FrankfurtDylan Hogarty, Global Banking & Markets, New YorkAdvertisementTim Holliday, Corporate Treasury, LondonKazuya Iketani, Global Banking & Markets, TokyoSumedh Jaiswal, Global Banking & Markets, LondonKyle Jessen, Global Banking & Markets, San FranciscoAdvertisementLotfi Karoui, Global Investment Research, New YorkFeroz Khosla, Global Banking & Markets, New YorkLarry Kleinman, Tax, New YorkJared Klyman, Asset & Wealth Management, New YorkAdvertisementDaniel Korich, Global Banking & Markets, New YorkRebecca Kruger, Global Banking & Markets, New YorkKosuke Kurosawa, Global Banking & Markets, TokyoShane Lee, Global Banking & Markets, CalgaryAdvertisementMichael Leister, Global Banking & Markets, New YorkMatthew Leskowitz, Global Banking & Markets, New YorkHilary Lopez, Asset & Wealth Management, LondonCedric Lucas, Asset & Wealth Management, New YorkAdvertisementMazen Makarem, Global Banking & Markets, New YorkMatthew Mason, Global Banking & Markets, Hong KongJans Meckel, Global Banking & Markets, ParisPatrick Moran, Legal, New YorkAdvertisementLeonie Morel, Global Banking & Markets, LondonJohn O'Connor, Global Banking & Markets, New YorkSteve Orr, Global Banking & Markets, New YorkLeke Osinubi, Engineering Division, New YorkAdvertisementElizabeth Overbay, Platform Solutions, New YorkJonathan Perry, Engineering Division, LondonThomas Plank, Global Banking & Markets, SingaporeCaitlin Pollak, Global Banking & Markets, New YorkAdvertisementLing Pong, Asset & Wealth Management, Hong KongJoe Porter, Global Banking & Markets, San FranciscoVishaal Rana, Global Banking & Markets, New YorkAlexandre Reinert, Global Banking & Markets, Hong KongAdvertisementMonique Rollins, Corporate Treasury, New YorkMarcos Rosenberg, Asset & Wealth Management, RichardsonMarc Schaffer, Global Banking & Markets, New YorkJan Scheffel, Global Banking & Markets, LondonAdvertisementRahul Sharma, Engineering Division, Menlo ParkEric Sheridan, Global Investment Research, New YorkSalil Sheth, Global Banking & Markets, New YorkJonathan Shugar, Global Banking & Markets, New YorkAdvertisementAlyson Shupe, Asset & Wealth Management, New YorkAaron Siegel, Global Banking & Markets, New YorkAdam Siegler, Global Banking & Markets, New YorkCraig Smart, Global Banking & Markets, New YorkAdvertisementAndre Souza, Global Banking & Markets, LondonThom Spoto, Asset & Wealth Management, West Palm BeachLesley Steele, Risk, LondonTeppei Takanabe, Global Banking & Markets, TokyoAdvertisementLaura van Alkemade, Global Banking & Markets, LondonDennis Walsh, Asset & Wealth Management, New YorkAlexandra Wilson-Elizondo, Asset & Wealth Management, New YorkSylvia Yeh, Asset & Wealth Management, New

Persons: Goldman Sachs, David Solomon, —, Solomon, John Waldron, Goldman, Michael Kovac, Beth Hammack, Stephanie Cohen, Katie Koch, Paris Benny Adler, Shahzad Ali, York Ash Ang, Singapore Lucia Arienti, London Matthew Armas, Patrick Armstrong, New York Sebastian Ayton, Paris Amitayush, London Rob Barlick Jr, David Bear, New York Amanda Beisel, Jeff Bernstein, New York Lyla Bibi, Anne Bizien, Tristan Blood, London Brittany Boals Moeller, Atlanta Marc Boheim, Chris Bonner, New York Kevin Boova, Oonagh Bradley, Timothy Braude, Steven Budig, Jacqueline Cassidy, New York Sorubh, New York Pamela Codo, Bracha Cohen, Shaun Cullinan, New York Marc d'Andlau, Paris Adam Davis, Matthew Doherty, New York Jason Eisenstadt, New York Ashley Everett, New York Alex Finston, Alison Flood, New York Arvind Giridhar, Ashwin Gupta, New York Sonia Gupta, Terry Hagerty, New York Robert Hamilton Kelly, Beach Axel Hoefer, Frankfurt Dylan Hogarty, Tim Holliday, London Kazuya Iketani, Kyle Jessen, Lotfi, New York Feroz Khosla, New York Larry Kleinman, New York Jared Klyman, Daniel Korich, New York Rebecca Kruger, New York Kosuke Kurosawa, Tokyo Shane Lee, Michael Leister, New York Matthew Leskowitz, New York Hilary Lopez, London Cedric Lucas, Mazen, New York Matthew Mason, Hong Kong Jans, Paris Patrick Moran, Leonie Morel, London John O'Connor, Steve Orr, New York Leke, Elizabeth Overbay, New York Jonathan Perry, Thomas Plank, Singapore Caitlin Pollak, Ling, Hong Kong Joe Porter, San Francisco Vishaal Rana, New York Alexandre Reinert, Monique Rollins, New York Marcos Rosenberg, Richardson Marc Schaffer, New York Jan Scheffel, Rahul Sharma, Eric Sheridan, New York Salil, New York Jonathan Shugar, Alyson, Aaron Siegel, New York Adam Siegler, New York Craig Smart, Andre Souza, London Thom Spoto, Palm Beach Lesley Steele, Laura van Alkemade, London Dennis Walsh, New York Alexandra Wilson, New York Sylvia Yeh, Piotr Zurawski, Emmalyse Brownstein, Reed Alexander Organizations: Service, Goldman, Business, Wall Street, Global Banking, Markets, Paris, New, Wealth Management, Asset, London, Atlanta, Compliance, San, Beach, Frankfurt, Corporate Treasury, Global Investment Research, Hong, Engineering Division, Solutions, Engineering, Menlo, Palm Beach Locations: Wall, New York, York, Singapore, London, Paris, Paris Amitayush Bahri, Miami, New, San Francisco, Tokyo, Calgary, Hong Kong

☆ The American Dream is under siege
▼ + stars: | 2024-03-02 | by ( Matt Egan | ) edition.cnn.com time to read: +15 min

Parents of young children are making difficult choices to afford child care — or they’re opting to evade it by dropping out of the workforce altogether. Even as the inflation rate has cooled across the US economy, child care remains a sore spot for many families. The weekly price of day care for a toddler surged 9% in 2023, according to Care.com, a marketplace for child care. Of course, Allison is hardly alone in feeling like the American Dream has been more difficult — and expensive — to attain than imagined. “The American dream is being taken away from the younger generation by the housing affordability challenges,” said Lawrence Yun, chief economist at the National Association of Realtors.

Persons: Hana Husković, Price, Hana, Michelle, they'll, ” Hana, “, It’s, they’ll, ’ Allison Powell, Liam Kelly, ” Allison, Allison Powell, Corinne ., ”, Allison, I’ll, homebuyers, Lotfi Karoui, Goldman Sachs, Lawrence Yun, Yun, Priscilla Almodovar, Fannie Mae, ” Almodovar, that’s, Almodovar, they’d, Homebuilding, Mark Zandi, Biden, ” Lael Brainard, Brainard, ” Brainard, ‘, Rachael Gambino, Garrett Mazzeo, Rachael, Deborah Brunswick, John General, ” Rachael, won’t, they’ve, – Organizations: New, New York CNN, Bureau of Labor Statistics, Wall, CNN, Federal, Intercontinental Exchange, ICE, Bloomberg, Getty, Rust Belt, National Association of Realtors, North, NAR, That’s, Baby Boomers, Homeowners, Federal Reserve, Moody’s Analytics, White, National Economic Council, American, Target, Starbucks, Facebook Locations: New York, United States, Atlanta, Peachtree Corners , Georgia, Decatur, Decatur , Georgia, Carolina, Yugoslavia, Italy, Mexico, Oakland , California, Livermore, San Francisco, California, Los Angeles, San Diego, Francisco, Miami, Honolulu, Rust, Des Moines , Iowa, Dayton , Ohio, Cleveland , Ohio, Scranton , Pennsylvania, Los Angeles , California, North America, America, States, Lansdale , Pennsylvania, Philadelphia

☆ Zombie firms are filing for bankruptcy as the Fed commits to higher rates
▼ + stars: | 2023-10-31 | by ( Carlos Waters | In Carloswaters | ) www.cnbc.com time to read: +2 min

"The share of zombie firms has been increasing over time," said Bruno Albuquerque, an economist at the International Monetary Fund. "This has detrimental effects on healthy firms who compete in the same sector." Zombie firms are unprofitable businesses that stay afloat by taking on new debt. Economists say that zombie firms may become more prevalent when banks or governments bail out unviable firms. Watch the video above to learn more about the Fed's battle with unviable zombie firms in the U.S.

Persons: Bruno Albuquerque, Banks, Kathryn Judge, Lotfi Karoui, Goldman Sachs, Jerome Powell Organizations: International Monetary Fund, Columbia University, Economists, Reserve, Economic, of New Locations: U.S, of New York

☆ Goldman Sachs says home prices are now more unaffordable for the average buyer than they were during the 2008 housing bubble. Here are the 2 things they say would have to happen for home prices to cra
▼ + stars: | 2023-10-12 | by ( William Edwards | ) www.businessinsider.com time to read: +4 min

It's even tougher to buy a home right now than it was during the peak of the mid-2000s housing bubble. For one, the labor market remains very strong, meaning demand will be supported — if people still have jobs, they still have money coming in to save for a home. Goldman SachsIn the Great Recession, rising unemployment hurt housing demand, bringing down home prices. Another reason Karoui thinks things are different today is what's happened in the adjustable-rate mortgage market. During the Great Recession, for example, unemployment stayed around current levels for several more months following Treasury yield curve inversion before rising meaningfully.

Persons: Goldman Sachs, Lotfi Karoui, Karoui, Goldman, Jan Hatzius, Piper, Michael Kantrowitz Organizations: Wall, Conference, Equity

The airstrikes have killed over 1,100 Palestinians, according to the Gaza Health Ministry. The Israeli military says more than 1,200 were killed and dozens more abducted, and the government declared war, promising a punishing campaign to destroy Hamas' military capabilities. This time, Israeli airstrikes are rapidly laying waste to vast swaths of Gaza, and casualties are mounting too fast for anyone to keep up. In many cases, residents say, the Israeli military has bombed apartment towers without the usual warning shots, wiping out families in their homes. The Israeli military rarely comments on individual airstrikes.

Persons: ”, Miriam Marmur, “, Nebal Farsakh, Richard Brennan, ” Brennan, “ It’s, Muhammad Al, Gharabli, decapitating, Mohammed, Lotfi, Jaber Weshah, Weshah, —, Khalil Abu Yahia, Alaa, Abu Yahia, ___ DeBre, Julia Frankel Organizations: Gaza, Gaza Health Ministry, Officials, Gisha, Palestinian, World Health Organization, United Nations, Shifa Hospital, Associated Press Locations: GAZA, bedsheets ., Gaza City, Gaza, Israel, “, Beit, ”, Jerusalem

CNN —Activists on Wednesday accused Iran’s morality police of assaulting a teenage girl for not wearing a headscarf in a Tehran metro station, leading to her hospitalization with serious injuries. But Iranian authorities and the teenager’s parents said she was hospitalized due to low blood pressure. The CEO of the Tehran metro however told state media that there was no physical or verbal interaction between Geravand and members of his staff. There was nothing recorded on the videos,” Tehran metro managing director Masoud Dorosti, told state media. In a video posted on state-affiliated Fars News Agency’s account on X, formerly known as Twitter, a group of girls are seen entering the metro train.

Persons: Iran’s, Geravand, “, ” “, Armita, ” Hengaw, Awyer Shekhi, Shekhi, Hengaw, Masoud Dorosti, ”, Shahin Ahmadi, …, Ahmad Garavand, Amini, Maryam Lotfi Organizations: CNN, Hengaw Organization for Human Rights, Fars News, Twitter, Fars News Agency, Fajr Air Force Hospital, UN, Rights, News Agency, Human Rights Locations: Tehran, Norway, Fars, Iran, Iranian

NEW YORK (AP) — Sister Helen Prejean remembered when she first spoke with Jake Heggie about adapting her book “Dead Man Walking.”“I don’t know boo-scat about opera,” she told him. It’s established in a lot of these abolitionist countries that there is no death penalty — the government, we don’t kill people for their crimes. The Met and Carnegie Hall plan to present excerpts at Sing Sing on Sept. 28 with DiDonato, Sister Helen as the narrator and inmates as the chorus. There have been 1,575 executions in the U.S. since the Supreme Court allowed the death penalty to be reinstated in 1976, according to the Death Penalty Information Center. Twenty-four states have death penalty laws, 23 do not and three have governor-imposed moratoriums, the center said.

Persons: Helen Prejean, Jake Heggie, ”, “, you’re, Tony, Olivier, Ivo van Hove, Joyce DiDonato, Helen, ” Heggie, it’s, It’s, ” Prejean, Saint Joseph of Medaille, Prejean, Jason Epstein, Knopf Doubleday, Tim Robbins, Susan Sarandon, Heggie, Frederica von Stade, Lotfi Mansouri, Terrence McNally, Mansouri, ” McNally, ” “ Sondheim, Stephen Sondheim's, Robbins, McNally, Joe Mantello, Susan Graham, von, ” Joshua Kosman, ” DiDonato, DiDonato, “ I’ve, ” Von Hove, Graham, de, I’ve Organizations: Metropolitan Opera, Knopf, UCLA, UCLA's Center, Art, Cal, San Francisco Opera, Opera House, von Stade, San Francisco Chronicle, New York City Opera, Houston, City Opera, Sing, Illinois Youth Center, Carnegie Hall Locations: New Orleans, New York, New, Madrid, Francisco’s, Ossining , New York, Chicago, U.S

☆ 10 US cities where home-price growth is regressing the most as high mortgage rates worsen affordability, according to Goldman Sachs
▼ + stars: | 2023-07-14 | by ( Laila Maidan | ) www.businessinsider.com time to read: +2 min

Goldman Sachs expects price growth to decline for the rest of the year. Since it's based on a three-month moving average, the report includes data from as far back as January when mortgage rates were slightly below today's rates. "With mortgage rates now ~75bp higher, we expect some affordability-related pressures will drive weaker home price growth in coming months," Karoui wrote. Although Goldman expects mortgage rates to slip to 6.4% by year-end, the cost of financing a home will still be relatively high. The higher rates mean prospective homebuyers will face relatively higher monthly payments, putting a damper on demand and price growth in several cities.

Persons: Goldman Sachs, Lotfi Karoui, Karoui, Goldman Organizations: Federal Reserve Locations: Seattle, Las Vegas

☆ The US military thought it killed a senior Al Qaeda leader in a drone strike, but some officials are now saying they may have made a mistake: report
▼ + stars: | 2023-05-20 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +3 min

US Central Command said in a press release that the target was a "senior Al Qaeda leader." Two US military officials told The Washington Post that the strike did not kill the intended target. The US Central Command released a brief statement on May 3, claiming it had conducted a "unilateral strike in Northwest Syria targeting a senior Al Qaeda leader." The experts added that it's unlikely that a senior Al Qaeda figure would be operating in the area of the strike. Central Command spokesperson Michael Lawhorn told the Post that officials are aware of reports of civilian casualty.

☆ Investors would be wise to heed these lessons from the 'retail apocalypse' as office values reset
▼ + stars: | 2023-05-14 | by ( Christina Cheddar Berk | ) www.cnbc.com time to read: +7 min

Still, it is also true that a lot of disruption occurred in between the events that prompted the "apocalypse" chatter and the firmer ground where retail real estate stands today. Recalling how these events played out is helpful in understanding the situation facing U.S. office properties. For office buildings, the pandemic knocked things out of whack. The same idea is being discussed for office buildings, but one-size will not fit all. There may be no surprise that there has been a huge drop-off in the number of loans with office properties as collateral since March.

☆ The fallout from empty offices is coming. Here's where investors could see the pain
▼ + stars: | 2023-04-14 | by ( Christina Cheddar Berk | ) www.cnbc.com time to read: +12 min

As concerns about regional banks roiled markets, investors weighed another threat: commercial real estate. Also, layered on top of the property value pressure, are the tightening credit conditions brought on by the recent turmoil in the banking sector. There is no doubt this scenario is a toxic mix for the capital-intensive real estate industry. At the moment, many experts say the real estate market isn't causing trouble for banks, but fears about the financial system are likely worsening conditions in real estate because liquidity is being reduced. The biggest concern is seeing how many other companies join Brookfield , Blackstone and Pimco in handing back the keys on office properties, Clancy said.

☆ Goldman Sachs says home prices are dropping rapidly in some US cities. Here are the top 20 cities ranked, along with median prices and affordability ratings for each.
▼ + stars: | 2023-04-12 | by ( Laila Maidan | ) www.businessinsider.com time to read: +3 min

Below is a list of 20 cities with the slowest home-price growth from the highest to lowest rates. Credit strategists at Goldman Sachs expect a more muted impact on residential lending relative to other types like business and commercial. "In our view, metro-level home prices will be more instructive than national prices when monitoring mortgage credit stress," Karoui said in a recent client note. To be sure, the housing market is more resilient to tighter standards now compared to 2008, when subprime mortgages caused the crisis. That very experience led to stricter scrutiny of lending requirements, causing the housing market to be better prepared to deal with challenging economic environments.

Some $17 billion worth of AT1 Credit Suisse bonds will be written down to zero on the orders of the Swiss regulator as part of a rescue merger with UBS (UBSG.S). Under the deal, holders of Credit Suisse AT1 bonds will get nothing, while shareholders, who usually rank below bondholders in terms of who gets paid when a bank or company collapses, will receive $3.23 billion. AT1 bonds issued by other European banks fell sharply on Monday as the treatment of Credit Suisse AT1 bondholders highlighted the risks of investing in this type of debt. AT1 bonds act as shock absorbers if a bank's capital levels fall below a certain threshold. Meanwhile, law firm Quinn Emanuel Urquhart & Sullivan said it was talking to a number of Credit Suisse AT1 holders about possible legal action.

☆ UBS could see big gains after forced Credit Suisse merger. Big U.S. banks may also be winners, analysts say
▼ + stars: | 2023-03-20 | by ( Alex Harring | ) www.cnbc.com time to read: +5 min

UBS ' acquisition of Credit Suisse could lead to big gains for the Swiss bank. UBS agreed to buy Credit Suisse for 3 billion Swiss francs, or around $3.2 billion, in a forced deal announced Sunday. As part of the deal, Credit Suisse shareholders receive 1 UBS share for every 22.48 Credit Suisse shares they hold. But Barclays analyst Amit Goel wasn't so sure, cutting his view on European banks to neutral from positive on Monday. Wells Fargo's Mike Mayo, meanwhile, sees opportunity for U.S. banks coming out of the UBS takeover of Credit Suisse.

☆ Goldman Sachs cuts outlook for European bank debt over Credit Suisse crisis
▼ + stars: | 2023-03-18 | by ( ) www.reuters.com time to read: +1 min

LONDON, March 18 (Reuters) - Goldman Sachs has cut its recommendation on exposure to European bank debt to neutral from overweight, saying a lack of clarity on Credit Suisse's (CSGN.S) future path would put pressure on the broader sector in the region. Credit Suisse was thrown a $54 billion lifeline by the Swiss central bank on Thursday to shore up liquidity after a slump in its shares and bonds intensified fears about a global banking crisis. "The Swiss National Bank's decision to provide Credit Suisse with significant and inexpensive liquidity fell short of stabilising sentiment in both the equity and credit markets," Goldman Sachs analyst Lotfi Karoui wrote in a note to clients dated March 17. Goldman Sachs initiated its overweight recommendation on European bank debt in mid-January. Credit Suisse Group AG entered a make-or-break weekend after some rivals grew cautious in their dealings with the bank and regulators urged it to pursue a deal with Swiss rival UBS AG (UBSG.S).

☆ Goldman Sachs shares 4 charts that explain the state of the housing market right now — and show why 4 cities could soon see the biggest price declines
▼ + stars: | 2023-02-28 | by ( William Edwards | ) www.businessinsider.com time to read: +2 min

Housing supply on a national basis will remain tight, Goldman Sachs strategists say. Part of that call — which is less bearish than forecasts from firms like KPMG, Interactive Brokers, and Pantheon Macroeconomics — is due to Goldman's outlook for housing supply levels. In certain areas of the country, supply levels are rising faster than in others. In four cities in particular, supply levels are above pre-pandemic levels, the bank said, which will result in greater price declines than the national average. Goldman SachsSupply developments in the multi-family housing market could also signal trouble for prices down the line, the strategists said.

☆ We 'definitely' won't see the Fed cutting interest rates this year but it will pull off a soft landing, Goldman Sachs strategist says
▼ + stars: | 2023-02-23 | by ( Zinya Salfiti | ) www.businessinsider.com time to read: +3 min

The Federal Reserve definitely won't cut interest rates this year, a top Goldman Sachs strategist said. "I would call it a soft landing as opposed to no landing," he added. But it will pull off a "soft landing" and bring inflation down without the US economy slipping into a recession, Lotfi Karoui told CNBC on Thursday. Demand for stocks typically falls as interest rates rise, as higher borrowing costs weigh on corporate finances and tend to have a negative impact on their future valuations. Goldman Sachs said Friday that it anticipates the Fed to hike interest rates three more times this year, after data released last week suggested persistent inflation pressures and continued resilience in the labor market.

☆ U.S. Fed 'definitely' won't cut interest rates this year, Goldman Sachs says
▼ + stars: | 2023-02-23 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailU.S. Fed 'definitely' won't cut interest rates this year, Goldman Sachs saysLotfi Karoui of the investment bank says whether the U.S. Federal Reserve cuts interest rates in the first or second quarter of 2024 is "up for debate."

☆ Goldman Sachs shares 4 cities that will suffer a 2008-size crash in home values — and breaks down why they believe home prices across the US will now fall further than they originally thought
▼ + stars: | 2023-01-24 | by ( William Edwards | ) www.businessinsider.com time to read: +4 min

In some cities, the damage will be as bad as it was across the US in the mid-2000s, the bank said. Attention homeowners and real-estate investors, Goldman Sachs has bad news: home prices are going to fall further in 2023 than they had previously thought. Goldman SachsWhile Karoui, Viswanathan, and Walker see national home prices falling by 10% peak-to-trough, they see prices in cities where home values have soared above average falling more. What other firms are sayingGoldman Sachs isn't the only Wall Street bank calling for further home price declines in 2023. Morgan Stanley strategist James Egan said in a January note that he sees home prices falling by 4% in 2023 thanks to stagnant demand.

☆ Moroccans celebrate historic World Cup win against Spain
▼ + stars: | 2022-12-07 | by ( Associated Press | ) www.nbcnews.com time to read: +3 min

Its World Cup success has reverberated across the Arab world and among Moroccan and some other immigrant communities in Europe. “Today is a day of joy for Moroccans and all the Arab world,” Lotfi said. “Morocco is representing all the Arab world, all the African continent, that is beyond description, it is the most glorious part,” he said. In Qatar, Moroccan fans clashed briefly with police outside the stadium before the game started. Ten days ago riots broke out in Belgium and the Netherlands as Morocco fans celebrated beating Belgium in the group stage in Qatar.

☆ Cost of capital increase will leave low-quality balance sheets vulnerable, says Goldman strategist
▼ + stars: | 2022-10-12 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCost of capital increase will leave low-quality balance sheets vulnerable, says Goldman strategistLotfi Karoui, chief credit strategist at Goldman Sachs, says the ability of firms to offset higher interest expenses with stronger earnings growth will be more constrained in this cycle; and shares where he's finding opportunity.

☆ 2-year Treasury reaches a fresh 15-year high
▼ + stars: | 2022-09-26 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email2-year Treasury reaches a fresh 15-year highLotfi Karoui, chief credit strategist and head of the credit research group at Goldman Sachs, joins 'Squawk on the Street' to discuss what 2-year Treasury reaching a fresh 15-year high means for the market.

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