Daunting Debt Dynamics – Goldman Sachs Exchanges — Transcript

Daunting Debt Dynamics – Goldman Sachs Exchanges — Transcript

Market views

Bullish

BANKRUPTCY— A significant increase in business bankruptcies is expected due to the economic shutdown, potentially surpassing levels seen after the Great Recession.
NEGRATES— The bond market is pricing in slightly negative rates by 2021, which is considered a reasonable market position given the potential for more significant negative rates if implemented.

Bearish

EM— Emerging markets face unprecedented challenges due to commodity price collapse, global trade disruption, and potential de-globalization, with China's growth expected to slow significantly.
EUROZONE— The Eurozone faces significant challenges due to economic shocks, with potential outcomes ranging from greater integration to possible unraveling.

Not investment advice.