Goldman Sachs Group Inc Fixed Income Investor Conference Call Summary

Edited Brief of GS.N conference call or presentation 10-May-22 3:00pm GMT

...A. Macroeconomic Backdrop: It's safe to say that 2022 has been quite volatile thus far. 1. 2. The invasion of Ukraine by Russia and resulting economic sanctions, coupled with high inflation and tightening of monetary policy has created significant volatility in the market. 3. These macro trends have impacted the strong economic momentum Co. witnessed in 2021. Lowering for re-growth expectations. a. 4. During 1Q, Co. saw equity markets decline and credit spreads widened across both investment grade and high yield products. 5. In 1Q, the two year and 10-year US Treasury yield curve flattened and in early April briefly inverted. 6. Since then, long end rates have continued to march higher. 10 year US Treasury yields rising more than 50 BP to 2.9% at the end of April. a. 7. Seen tighter FY and monetary policies in US and UK in the face of rising inflation. 8. In US, Co.'s economists anticipate that the Fed will move aggressively to curb inflation with: Five remaining rate hikes expected in...

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