Tag Archives: goldman

>Financial Times: Goldman made multiple trips to Fed window


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Goldman made multiple trips to Fed window 
April 01 2011 1:38 AM GMT


By Justin Baer in New York

Goldman Sachs turned to the Fed’s discount window on multiple occasions following its conversion to a bank holding company at the height of the financial crisis
Read the full article at: http://www.ft.com/cms/s/0/ea97d2f6-5bee-11e0-bb56-00144feab49a.html

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Facebook blow for Goldman US clients


Facebook blow for Goldman US clients

http://ftalphaville.ft.com/thecut/2011/01/18/461276/facebook-blow-for-goldman-us-clients/

Goldman Sachs has scrapped an offer to clients in the US to participate in a $1.5bn investment in Facebook, dealing a blow to one of the most closely watched private financings for a US company, reports the FT. The offer will still be open to investors elsewhere but the bank said publicity over the plan threatened to put it in breach of US securities laws against the promotion of private share sales. Demand for shares in Facebook, which is considering a full initial public offering in early 2012, has soared in private markets in recent months, making Goldman’s ability to offer favoured clients the stock a coup for the bank. DealBook notes that problems with the offering may fuel recent tensions between Goldman and Facebook, and could damage the firm’s prospects of leading Facebook’s long-awaited IPO. DealJournal posts Goldman’s “sorry about that” statement.

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GM Breaks For Trading


from zerohedge.com

GM Breaks For Trading

Links:
[1] http://www.zerohedge.com/sites/default/files/images/user5/imageroot/gono/GM.png

GM Breaks For Trading

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Copper Will Trade at $11,000 in a Year, Goldman Says – Bloomberg, October 5, 2010


We’ll see…
bloomberg      
October 5, 2010
Copper Will Trade at $11,000 in a Year, Goldman Says
Copper will trade at $11,000 a metric ton in a year, Goldman Sachs Group Inc. said as it raised price estimates because of swelling demand.
The forecast implies a 35 percent gain from the metal’s current price. The bank had predicted on Sept. 17 that copper would trade at $8,050 a ton in 12 months. Goldman today advised investors to buy the December 2011 contract as increasing demand leads to shortages of the metal.
Copper for three-month delivery traded on the London Metal Exchange jumped 23 percent in the third quarter, the most in a year, helped by falling stockpiles and a weaker dollar. LME inventories shrank by 17 percent in the period, and the U.S. Dollar Index, a six-currency gauge of the greenback’s strength, slid 8.5 percent, the most since 2002.
“Supply-demand deficits look set to grow on emerging- market strength and improving demand from developed economies, which we expect to significantly outpace supply growth, drawing down inventories and creating market shortages,” analysts including London-based Jeffrey Currie said in the report. “We don’t believe that the market is fully pricing these shortages and the potential for demand rationing that lies ahead in 2011.”
Zinc Prices
Three-month copper traded at $8,156 a ton at 1:38 p.m. on the LME. The December 2011 contract was at $8,025. Goldman Sachs raised its three-month forecast for the metal to $8,500 and increased its six-month estimate to $8,800.
Copper will average $9,300 a ton next year, the bank said, compared with about $7,215 so far in 2010. Electrical equipment and construction are the main sources of demand.
Goldman Sachs also raised its 12-month forecast for zinc to $3,000 a ton. The metal, used to rust-proof steel, will likely stay in surplus for now because of supply growth, though the market will be more balanced in the year ahead and “possibly swinging to times of deficit” next year, the bank said.
Zinc for three-month delivery was last at $2,288 a ton on the LME, reducing this year’s decline to 11 percent. The metal will average $2,575 in 2011, said Goldman Sachs, which on Sept. 17 predicted a 12-month price of $2,225.