Welcome to our exchanges Goldman Sachs markets update for May 1st. Each week we check

in with leaders across the firm to get their quick take on what they're watching in

markets. I'm Jake Stewart Globalhead of Corporate Communications

here at the firm in today's repeat guest. Is Alex Blanchard Globalhead of repo trading

for Global Markets Division. Welcome back to the program, Alex. Thanks for having me, Jake. It's a real pleasure. to Visc

Welcome back to the program, Alex.

Thanks for having me, Jake, it's a real pleasure.

So start by broadly describing sentiment in markets right now what you're hearing from the clients you're talking to.

Yeah, I would say, you know, from when we last spoke,

sentiment certainly across the client base that I interact with

has improved drastically.

You know, if we think back to where we were in the middle of March you had a confluence of

extraordinarily large amount of volatility you know a huge amount of uncertainty

driving that along with significant

dislocations in the global funding complex. Since then we've had a

massive response from the global central banks, both in terms of size and also speed. I think, you know,

important to mention the speed with which we've kind of gotten to where we've gotten to both in terms of traditional monetary policy response as well as

non-traditional monetary policy response. I think it's fair to say that perhaps the global

Central Bank has learnt from previous experience.

And so if we look at the various array of facilities

that have been implemented notably by the Fed

but other Central Banks a long way,

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