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Exchanges

Markets Update: Do Investors Think the S&P 500 Has Bottomed Out?

Exchanges

Goldman Sachs

Business

4.41K Ratings

🗓️ 3 April 2020

⏱️ 9 minutes

🧾️ Download transcript

Summary

Anne Marie Darling of Goldman Sachs’ Global Markets Division analyzes the S&P 500 index’s historically fast fall into bear market territory and shares results of the April Marquee QuickPoll, a survey of institutional clients which found that about half of respondents don’t believe lows have been set yet.

Transcript

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0:00.0

Welcome to our exchanges Goldman Sachs markets update for April 3rd. Each week we check in with a senior leader across the firm to get their quick take on what they're watching in markets.

0:13.4

I'm Jake Seaward, Global Head of Corporate Communications

0:15.6

here at the firm, and today I'm delighted

0:17.2

to be joined by Anne-Marie Darling

0:19.1

of our Global Markets Division.

0:20.6

Welcome, Anne-Marie.

0:21.6

Thank you for having me. So, Anne-Marie. Thank you for having me.

0:23.0

So, Anne-Marie, before we jump in, give us a little intro to what you've been doing, what you do at the

0:29.0

firm, and also how the work you've been doing on the digital transformation of the firm has evolved in the current context.

0:35.6

Great. So I've been at the firm 20 years. I actually started my career on the floor of the American Stock Exchange. I currently manage multi asset

0:44.7

platform sales, our global fixed income execution services business, and

0:49.7

more key. And so that's a very interesting question. We've seen obviously with 98% of Goldman Sachs working from home with similar results from our clients all working from home. The three areas that we've really noticed

1:04.6

increased digital connection is really first in collaboration.

1:09.6

So all my teams globally are really interacting with video conferencing tools which has been

1:14.9

fantastic so they can actually see what's happening on the desk and with each other and the

1:20.4

global messaging between our clients has really skyrocketed.

1:24.1

The seconds around analytics, data, and contents,

1:27.7

so in Marquis, which is our digital store front for institutional clients,

1:32.4

the weekly active users have increased

1:34.6

significantly and our mobile app usage has really gone through the roof and so

1:40.1

GS now our mobile application is seeing a surge of up over 65% in terms of weekly usage.

1:48.4

And then the last area we're really seeing impact is in our systematic market-making business and so our SMM business has

...

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