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Goldman Sachs Abandons Five of Six 'Top Trade' Calls for 2016
Goldman Sachs Group Inc. has exited five of six top trading recommendations for the year after they were thwarted by financial-market turmoil linked to signs of a slowdown in global economic growth. The New York-based bank closed its call for dollar strength versus an equally weighted basket of the euro and yen, recording a potential loss of about 5 percent, Charles Himmelberg, chief credit strategist, wrote in a note to clients Tuesday. Goldman has also ended a bet on five-year five-year forward Italian sovereign yields versus their German counterparts for a loss of about 0.5 percent, Himmelberg wrote. “Markets ... (full story)
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