The global economy is holding up better than expected in the face of higher tariffs and greater uncertainty about relations between powerful countries and the implications of technological change, the head of the International Monetary Fund said. ...

Here with us onset is Strategist chief market strategist Chris Veron. Chris, it was it's been a blistering run. Yeah.But one that hasn't been filled with massive upside volatility. It's been kind of like that meltup approach. Incremental highs all the time in almost a straight line.Is now the time to keep that momentum going and play that momentum or to be a little bit more cautious about these sets of record highs. Well, listen, we know where we are, Dom, with the calendar. It's the middle of September. We ...

The Chinese government will, as always, encourage and support entrepreneurs in their undertakings and endeavours and continue to foster a market oriented world class business environment governed by a sound legal framework. With arms wide open, we warmly welcome enterprises from around the world to invest in China, deepen your roots in China, develop alongside China, and work with us for a better future. To conclude, I wish this annual meeting a full success.Thank you. That was the Chinese premier, Li Qiang ...

Summary of Key Points from the Conference Call Industry Overview - The report discusses the current state of the global economy, focusing on macroeconomic indicators and market performance across various asset classes, particularly equities, bonds, and commodities [2][3][4]. Core Insights and Arguments 1. **Economic Indicators**: - The Euro area-wide flash composite PMI is reported at 50.4, indicating mixed data across countries and sectors [2][3]. - US growth forecasts have been revised down to 1.7% for Q4/Q4 due to tariff-induced uncertainty affecting sentiment and growth [3][4]. 2. **Market Performance**: - US equities showed signs of relief, supported by expectations of limited tariff announcements [2]. - Asian equities and commodities performed well, while the US Dollar rebounded after a recent correction [2]. 3. **Central Bank Policies**: - Central banks, including the Fed, BoJ, and BoE, have slowed their pace of easing, maintaining steady rates, except for the Swiss National Bank, which cut rates by 25 basis points [2][3]. 4. **Investment Recommendations**: - A balanced portfolio is recommended, with overweight positions in equities and bonds, neutral in commodities and cash, and underweight in credit [5]. - Selective cross-asset option overlays are suggested, such as put spreads on oil as a hedge against lower global growth [5]. 5. **Volatility and Risk Management**: - Implied volatility has increased, particularly for equities, prompting a focus on diversification across and within asset classes [5]. - Strategies like selling risk-reversals on EUR/CHF are highlighted to hedge against European growth downside risks [5]. 6. **Safe Haven Assets**: - Diversifying safe havens beyond the US Dollar is advised, with JPY/AUD showing greater sensitivity to global growth expectations compared to Dollar crosses [5]. Additional Important Content - The report emphasizes the negative correlation between G4 yields and economic surprises across regions, with the exception of Germany, where expectations of increased fiscal spending have driven yields upward [4][16]. - The performance of credit indices has outperformed equities during sell-offs due to their lower beta to risk-off episodes [4]. - The report includes various exhibits that illustrate the performance of different asset classes, risk appetite indicators, and valuation metrics [8][24][29][64]. This summary encapsulates the key points from the conference call, providing insights into the current economic landscape, market performance, and investment strategies recommended by Goldman Sachs.