What you need to know on Wall Street today
As of today, this newsletter will be moving to a new weekly format.
Sent every Saturday morning, this newsletter will be a weekly wrap up of the biggest stories in finance curated by senior finance editor Olivia Oran.
A Wall Street chief strategist explains why we've dodged a recession for now - and lays out 5 trades for an explosive stock rebound
Calls for an imminent recession flared at the end of 2018 amid troubling signs of slowing economic growth.
Jim Paulsen, the chief investment strategist at Leuthold Group, explains why the US economy dodged a recession - at least for now.He expects the stock market to rally sharply in 2019, and he laid out five core strategies for investors who want to take advantage.
Goldman Sachs' 1MDB problems are eating into employee morale, and insiders worry the firm will use its legal woes as an excuse to scrimp on bonuses
Goldman Sachs traders are wringing their hands ahead of this year's bonus season, one of the most emotional times on Wall Street.
The sudden prospect of billions of dollars in fines from the scandal involving the 1MDB Malaysian sovereign-wealth fund has some traders worried that the bank has found a useful scapegoat to scrimp on bonuses. Employees are set to learn about their annual pay numbers next week.
"They'll find any excuse to cut comp," one trader in equities said. Another said the possibility of the 1MDB scandal eating into employee compensation was definitely a worry, though predominantly among the more "pessimistic" at the bank. The traders were based in Goldman's New York and London offices.
One of SoftBank's favorite tech bankers has left Goldman Sachs after 18 yearsSimon Holden, an 18-year veteran of Goldman Sachs' banking division who was a key banker responsible for the firm's relationship with the Japanese technology conglomerate SoftBank, has retired from the firm.
Holden was most recently the bank's vice chairman for investment banking in Europe, the Middle East, and Africa, according to a memo sent late last year and viewed by Business Insider.
He previously served as chief operating officer of the investment-banking division.
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