Goldman Sachs leaning on the Wall Street
Wall Street
Wall Street is part of the Financial District in New York City and one of the most iconic streets in the world. It is synonymous with US financial markets, and home to the world’s two largest stock exchanges by market capitalization – the New York Stock Exchange and NASDAQ.The area is also home, be it presently or historically to many other key exchanges. This includes the New York Mercantile Exchange, the New York Board of Trade, the New York Futures Exchange (NYFE), and the former American Stock Exchange, all of which at one time headquartered on Wall Street.Impact of Wall Street on Financial MarketsThe direct economic impacts of Wall Street activities extend beyond New York City. The term itself carries enormous weight as a central hub in the financial community, including multiple markets.This includes publicly traded companies that are traditionally lumped into this designation.Wall Street still retains its importance as a strategic location worldwide where a number of financial institutions are based. However, over several decades the globalization of finance has led to many financial institutions being established elsewhere.Wall Street is also important in the media, commonly representing the “Street”. This term is routinely used when discussing markets, stocks, or even financial data or consensuses. The US market and by extension, Wall Street is open from its usual trading hours from 9:30 EST to 16:00 EST, Monday to Friday.Wall Street has also been famously depicted in movies and television series given its iconic status in the US.
Wall Street is part of the Financial District in New York City and one of the most iconic streets in the world. It is synonymous with US financial markets, and home to the world’s two largest stock exchanges by market capitalization – the New York Stock Exchange and NASDAQ.The area is also home, be it presently or historically to many other key exchanges. This includes the New York Mercantile Exchange, the New York Board of Trade, the New York Futures Exchange (NYFE), and the former American Stock Exchange, all of which at one time headquartered on Wall Street.Impact of Wall Street on Financial MarketsThe direct economic impacts of Wall Street activities extend beyond New York City. The term itself carries enormous weight as a central hub in the financial community, including multiple markets.This includes publicly traded companies that are traditionally lumped into this designation.Wall Street still retains its importance as a strategic location worldwide where a number of financial institutions are based. However, over several decades the globalization of finance has led to many financial institutions being established elsewhere.Wall Street is also important in the media, commonly representing the “Street”. This term is routinely used when discussing markets, stocks, or even financial data or consensuses. The US market and by extension, Wall Street is open from its usual trading hours from 9:30 EST to 16:00 EST, Monday to Friday.Wall Street has also been famously depicted in movies and television series given its iconic status in the US.
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GS:
An article in the Wall Street Journal by Nick Timiraos reported that Fed officials are likely "to consider surprising markets with a larger-than-expected 0.75-percentage-point interest rate increase at their meeting this week."The article is a departure from another article that Nick Timiraos published yesterday that characterized such a move as "unlikely."Our best guess is therefore that the article is a hint from the Fed leadership that a 75bp rate hike is coming at the June FOMC meeting on Wednesday. Revised forecasts from GS:
75bp hikes in June and July.This would quickly reset the level of the funds rate at 2.25-2.5%,the FOMC's median estimate of the neutral rate. 50bp hike in September 25bp hikes in November and December,for an unchanged terminal rate of 3.25-3.5%. We are also revising our forecast of the dot plot. We now expect the median dot to show 3.25-3.5%at end-2022, the same as our forecast. We expect the median dot to show two further hikes in 2023 to 3.75-4%, followed by one cut in 2024 to 3.5-3.75%. Earlier:
Wonder if JPM and GS were reading ForexLive on Sunday evening?
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