Goldman's Solomon Cautions on Sharp Rate Swings, Sees Firm Economic Ground
What happened
Goldman Sachs chief executive David Solomon cautioned that sharp swings in monetary policy can weigh on markets and corporate activity, while pointing to continued resilience in economic fundamentals. The remarks accompany the firm's quarterly release. They land on a day when financials rank among the weakest sector groups, with XLF off 1.23%.
The QL Read
In a risk-off tape (VIX 15.58, breadth just 24.1% advancing), Solomon's rate caution lands on a QuantLogix composite already at 31/100, a Strong Sell reading, with GS down 0.97% to $885.06. Peer commentary from BAC and MS today may influence the composite.
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