Welcome to our exchanges Goldman Sachs market update for March 27th.

Every week we check in with leaders across the firm to get their quick take on what they're watching in markets and there's certainly a lot to watch.

I'm Jake Stewart and today's guest is Andrew Wilson of our Consumer and

Investment Management Division. We're obviously working remotely like many others

so I'm dialing in from New York and Andrew's over in London

and he'll be catching us up on the latest movements in European markets.

Welcome Andrew.

Thank you very much, Jake.

So before we jump in, just Andrew, give us a quick intro and tell us what your focus area is here at the

firm. So my responsibility is for fixed income and liquidity business within the

Goldman Sachs asset management business. Okay so obviously we've been seeing a lot of volatility in U.S. equity markets.

How have European markets been trending the last few weeks and has it been pretty much working in parallel with the volatility we've seen in the U.S.

Yeah, I think, you know, if you look at what the underlying cause here, of course, it's a global phenomenon.

You know, the coronavirus having started in Asia and moving around the rest of the world.

We've seen that volatility across all markets and as listeners will be aware

really Europe is now being described as the epicenter. There's certainly many

more deaths that have happened

unfortunately in Europe than there has been in China. So European markets really have

been very much in the eye of the storm. So the volatility that you would have witnessed in the US has

played out across European markets, whether that is in the fixed income, equity or currency

markets in the same way that we've seen in the US. So certainly the

focus is on what policy responses are coming out of Europe just as much as it is

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