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IPFS News Link • Central Banks/Banking

"Emergency Is On The Table":

• by Tyler Durden

When it comes to its market, rates and economic forecasts, Goldman has long been one of Wall Street's favorite contrarian, Gartman-like indicators: i.e., always wrong. From its notoriously terrible FX predictions (which we so bad, two of its recent global FX strategists quit because they literally couldn't get one call right), from its atrocious STIR predictions, expecting four rate hikes in 2019 back in December 2018 as the Fed was set to reverse its tightening bias, and not only cut rates 3 times but launch QE4, to its perpetually optimistic S&P and economic forecasts, and last but not least, always incorrectly calling for higher yields by year end (any year end), it was easy to forget that Goldman was once one of the most respected banks on Wall Street instead of a bunch of sellside clowns whose only job was to get clients to do the opposite of what its flow traders were doing.