18 December 2025 | 11:33AM EST Commodities Research COMMODITY VIEWS 2026 Outlook: Ride the Power Race and Supply Waves Daan Struyven +1(212)357-4172 | daan.struyven@gs.com Goldman Sachs & Co. LLC Samantha Dart +1(212)357-9428 | samantha.dart@gs.com Goldman Sachs & Co. LLC Lina Thomas +1(212)902-8376 | lina.thomas@gs.com Goldman Sachs & Co. LLC Eoin Dinsmore +65-6889-2401 | eoin.dinsmore@gs.com Goldman Sachs (Singapore) Pte Yulia Zhestkova Grigsby +1(646)446-3905 | yulia.grigsby@gs.com Goldman Sachs & Co. LL ...

The economy expanded by an impressive 4.3% in the third quarter. The data support Wall Street's "run-it-hot" thesis heading into 2026. The scenario involves robust economic growth and above-target inflation. Investors just got a blockbuster GDP print for the third quarter. The US economy grew 4.3%, much more than expected, while consumer spending increased 3.5%. Stocks dipped on the news, as odds of a rate cut for both the January and March Fed meetings dwindled. Importantly, though, the report ...

As filed with the U.S. Securities and Exchange Commission on December 19, 2025. Registration No. 333- UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ––––––––––––––––––––––––––––––––––––––– FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 ––––––––––––––––––––––––––––––––––––––– Brookline Capital Acquisition Corp II (Exact name of registrant as specified in its charter) ––––––––––––––––––––––––––––––––––––––– | Cayman Islands | 6770 | N/A | | --- | --- | --- | | (State ...

Under Armour founder and CEO Kevin Plank, along with Goldman Sachs, is stepping away from further development of Baltimore Peninsula, formerly known as Port Covington, a 235-acre mixed-use waterfront redevelopment project in South Baltimore. Originally pitched as a 14-million-square-foot mini-city anchored by a new UA headquarters, a new report says less than 10% of the planned project has been built.Representatives for Plank's real estate development company, Sagamore Ventures, and its equity partner, Gold ...

Core Viewpoint - Goldman Sachs has forecasted that gold prices will rise to approximately $4,900 per ounce by the end of 2026, indicating a 13% increase from current spot prices of $4,323.71 per ounce [2]. Group 1: Central Bank Demand - Central banks have transitioned from occasional gold buyers during crises to consistent and strategic purchasers as part of their long-term reserve strategies [5][6]. - In Q1 2025, central banks acquired a net total of 244 tonnes of gold, followed by 166 tonnes in Q2 and a significant increase to 220 tonnes in Q3 [7]. - In October 2025 alone, central banks recorded 53 tonnes of net gold buying [8]. Group 2: Interest Rates Impact - Falling interest rates are reshaping investor perceptions of gold, which traditionally struggles when yields are high due to its lack of income generation [9]. - The recent Federal Reserve rate cut on December 10, 2025, lowered the target range to 3.50% to 3.75%, further supporting gold's appeal as a store of value [10].

India’s long-awaited package of financial services reforms is setting the stage for a surge of foreign capital into the world’s fastest-growing major economy.In the latest step, lawmakers passed a bill this week allowing up to 100% foreign ownership of insurance firms, bolstering an industry long viewed as under-penetrated and capital-starved. Regulators have also overhauled rules for banks, pension funds and capital markets as they aim to shift savings from idle assets such as gold and property toward equi ...

Core Insights - The Indian government has passed a bill allowing up to 100% foreign ownership of insurance firms, addressing the industry's under-penetration and capital shortages [1][19] - Reforms are aimed at attracting foreign capital, especially in light of recent tariffs imposed by the US on Indian goods, which have impacted exports and manufacturing ambitions [2][3] - The reforms are expected to enhance global investor sentiment and increase foreign investment flows, creating more opportunities for banks and financial institutions [3][7] Insurance and Pension Sector - The new legislation allows full foreign ownership in the insurance sector, which has been capped at 74% previously, signaling a shift towards deregulation [8][19] - The pension fund sector, valued at $177 billion, will also see a similar shift towards 100% foreign ownership, enhancing investment flexibility [9][19] - Major global firms like Allianz SE, Axa SA, and Nippon Life Insurance Co. are expected to benefit from these changes, allowing them to scale up investments [8][19] Foreign Direct Investment - India recorded a net foreign direct investment of $7.6 billion from April to September, more than double the previous year's rate, indicating a growing appetite for Indian assets [7][19] - Recent deals, such as Mizuho Financial Group's acquisition of a controlling stake in Avendus Capital, highlight the increasing interest from foreign investors [6][19] Market Dynamics - The total volume of transactions targeting Indian firms has increased by 15% this year, reaching nearly $90 billion, with significant involvement from Japanese buyers [12][19] - Indian firms have raised a record $22 billion through initial public offerings in 2025, showcasing a booming capital market [14][19] - Despite the positive reforms, the Nifty 50 Index has only risen by 10% this year, and foreign investors have withdrawn approximately $18 billion from equity markets [17][19] Regulatory Changes - The Indian securities market regulator has implemented significant changes to reduce fees for domestic mutual funds, aiming to enhance trading activity [15][19] - State-run banks are now allowed a more active role in funding mergers and acquisitions, enabling them to compete more effectively with foreign counterparts [13][19] Economic Goals - The reforms are part of a broader strategy to make India a developed economy by 2047, requiring an annual economic growth rate of about 8% [1][19] - The government is also focusing on rapid industrialization and deeper capital markets to achieve its economic targets [1][19]

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18 December 2025 | 11:07AM EST Economics Research GLOBAL ECONOMICS ANALYST Macro Outlook 2026: Sturdy Growth, Stagnant Jobs, Stable Prices Jan Hatzius +1(212)902-0394 | jan.hatzius@gs.com Goldman Sachs & Co. LLC Dominic Wilson +1(212)902-5924 | dominic.wilson@gs.com Goldman Sachs & Co. LLC Joseph Briggs +1(212)902-2163 | joseph.briggs@gs.com Goldman Sachs & Co. LLC Vickie Chang +1(212)902-6915 | vickie.chang@gs.com Goldman Sachs & Co. LLC Sarah Dong +1(212)357-9741 | sarah.dong@gs.com Goldman Sachs & Co. LL ...

What's Top of Mind in Macro Research: Key takeaways from our 2026 outlooks See all our year-ahead forecasts in one place. Visit the page. 18 December 2025 | 4:23PM EST Economics Research Transcript Despite concerns about higher US tariffs, global growth held up well this year, and we expect another sturdy year for the global economy in 2026. Specifically, we forecast 2.8% global growth next year (on an annual average basis), with the US, Europe, and China likely to outperform consensus expectations, though ...