Archives of “April 8, 2020” day

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Goldman Sachs analyst on downside risk for US equities

  
  Analysis
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Goldman Sachs’s chief equity strategist, David Kostin spoke Tuesday with CNBC

  • “There’s a little bit of asymmetry in terms of the downside risk toward a level in the S&P 500 of around 2,000, which is down almost 25%, and upside of around 10% to a target at the end of the year of 3,000”
Unpicking/deciphering that – he thinks lower is more likely.
More:
  • important investors not get too keen to buy
  • during the 2008 financial crisis the market took several months of violent moves up and down before ultimately putting in a lasting bottoming on March 9, 2009
  • “I would just remind you that in 2008 in the fourth quarter there were many different rallies…but the market did not bottom until March of 2009” 

EU top scientist resigned: “extremely disappointed by European response to Covid-19”

  
  Analysis
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President of the European Research Council Professor Mauro Ferrari resigned on Tuesday

  • “I have been extremely disappointed by the European response to Covid-19”
  • He developed a plan for a response ….  “The proposal was passed on to different layers of European Commission administration, where I believe it disintegrated upon impact.”
Janez Lenarcic, the EU’s crisis management commissioner:
  • member states had initially not offered the help needed by Italy as the death toll there soared
  • “There was an inadequate response to the Italian request for assistance from other EU member states,” he told reporters in Brussels on Tuesday, as he unveiled a plan to dispatch doctors and nurses from Romania and Norway to Italy. “But things have changed now.”
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