Improved macroeconomic background and strong business performance drive optimism

  • Goldman Sachs sees confidence building in deal making
  • Improved macroeconomic background supports debt transactions and other deals
  • Fixed income and equities businesses remain strong for Goldman Sachs
  • Goldman Sachs remains No. 1 in merger-and-acquisition advisory business
  • Compensation focused on pay for performance
  • Overall investment-banking market trends are muted in the fourth quarter
  • Hopes for a capital markets comeback in 2024
  • Signs of life in fixed income and equities in the fourth quarter

Goldman Sachs Group Inc. is optimistic about the future of deal making on Wall Street. Chief Financial Officer Dennis Coleman stated that confidence is building, supported by an improved macroeconomic background. The bank continues to see engagement from clients in its fixed income and equities units, which have been sources of strength throughout the year. Despite investment banking being below trend, Goldman Sachs remains the top player in merger-and-acquisition advisory, equities, and high-yield debt. Compensation at the bank is focused on pay for performance. In the overall investment-banking market, trends are muted in the fourth quarter. However, there are hopes for a capital markets comeback in 2024. Fixed income and equities are showing signs of life in the fourth quarter, with volatility mixed across the sector.

Public Companies: Goldman Sachs Group Inc. (GS), Apple Inc. (AAPL), General Motors Co. (GM), JPMorgan Chase & Co. (JPM), Citigroup Inc. (C), Bank of America Corp. (BAC), Morgan Stanley (MS)
Private Companies:
Key People: Dennis Coleman (Chief Financial Officer)

Track all markets on TradingView

Factuality Level: 7
Justification: The article provides information about Goldman Sachs’ outlook for the coming year and comments from their Chief Financial Officer. It also includes data on investment banking trends from a report by Jefferies. However, the article lacks in-depth analysis and context, and there is no independent verification of the information provided.

Noise Level: 3
Justification: The article provides information about Goldman Sachs’ outlook for the coming year and its performance in various business areas. It includes quotes from the Chief Financial Officer and mentions of other banks’ performance. However, the article lacks depth and analysis, and there is a lack of evidence or data to support the claims made. It also includes unrelated information about Wells Fargo’s severance costs, which is not relevant to the main topic.

Financial Relevance: Yes
Financial Markets Impacted: Wall Street deal making, investment banking, equities, high-yield debt

Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The article discusses the outlook for Wall Street deal making and the performance of Goldman Sachs in the investment banking sector. While there is no mention of any extreme events or their impact, the information provided is relevant to financial markets and companies.

Reported publicly: www.marketwatch.com