The Goldman Sachs Group, Inc.

The investment bank has returned to the defensive strategy it pursued in early 2025

Goldman has lost interest in Asia's high-yield bonds. What does he advise instead?

The year 2025 could be one of the busiest years for bond vigilantes in decades - since the beginning of the year, investors have already dictated their will to politicians in the US, UK and Japan several times. Have these "guardians" of the market become stronger, or do they have more reasons to fear?

On a short leash: How "bond vigilantes" impose their will on politicians

Since mid-2023, foreign investment in the Chinese equivalent of the lowest-risk U.S. debt securities has grown more than sixfold

Chinese bonds have lost appeal to foreign investors - Bloomberg

In the 2020s, the tried-and-true strategy stopped working for the first time

The classic 60/40 portfolio is experiencing its worst period in 150 years. What went wrong?

The ICE Dollar Index ended the first half of 2025 with its worst performance since its launch in 1973


Dollar is behaving like a "risky" currency, Goldman believes. Is it no longer a "safe haven"?

The dollar has not experienced such a long period of <a href="https://www.marketwatch.com/story/the-dollar-is-having-its-worst-year-since-nixon-three-reasons-it-will-get-even-weaker-fc3c7a20?mod=mw_pushly&amp;send_date=20250708">decline</a> since the abolition of the Bretton Woods system. It has weakened against major currencies since the start of the year, with the devaluation against the euro currently at 12%; at the peak it was 14%. The policies of US President Donald Trump - imposing trade duties, growing budget deficits and attacks on the head of the Federal Reserve System - have led to the debate about finding an alternative to the dollar as the world's reserve currency resumed with renewed vigor. But what should an investor choose? Manager Alexey Tretyakov compares the dollar and potential alternative currencies by criteria: yield, risks and liquidity.

In which currency should a global investor keep funds? A breakdown of alternatives to the dollar


Many historical crises began precisely in the third quarter, the bank's strategist recalls

Wall Street's fear index is down. Why does Deutsche Bank see the risk of a summer crisis?

Classical economic theory is based on rational consumer behavior and does not suggest that emotions are sometimes a key driver of some decisions and events. But British Chancellor of the Exchequer Rachel Reeves' tears in the House of Commons last week precisely caused a nervous reaction from investors, who staged a £3 billion sell-off. Independent analyst Mikhail Zavaraev discusses what, setting aside emotions, an investor should pay attention to on the British market in the near future.

What's an investor in Britain's market to do if the finance minister cries?  

Meta Platforms, Inc.

U.S. President Donald Trump signed the "Big Beautiful" law - it involves increased spending and an increase in the state budget deficit. At the same time, Trump said that his administration began sending out notices about the introduction of increased duties from August 1 - they will be received by countries with which the U.S. has not concluded new trade agreements. The main events from June 30 to July 4 - in our review;

Highlights of the week: 'Big Beautiful' law, letters from Trump, minister's tears

Goldman's new forecast for US Treasuries looks slightly softer than market consensus

Goldman now expects not one but three rate cuts in 2025. What will happen to the treasuries?

The euro <a href="https://www.bloomberg.com/news/articles/2025-07-01/ecb-s-guindos-says-euro-gain-beyond-1-20-would-be-complicated?srnd=homepage-europe">rose</a> nearly 14% against the dollar this year, largely due to the policies of President Donald Trump's administration. The U.S. president's actions have caused investors to question the irreplaceability and steadfastness of the U.S. currency. Sergey Romanchuk, a financier and member of ACI's Foreign Exchange Committee, discusses whether the euro will be able to displace the dollar on the pedestal of reserve currency No. 1.

A historic moment for the euro: can it displace the dollar?

JPMorgan Chase & Co.

Morgan Stanley

The current year has changed the priorities of investors on Wall Street - from the dollar to the euro, from U.S. equities to eurozone and emerging market securities

Bonds