Goldman’s losses coincided with increases in bond prices.
One of the Wall Street giant’s trading desks that makes bets on interest rate products has lost approximately $200 million since SVB failed late last week, theGoldman’s losses coincided with increases in bond prices, which spiked as banking sector turmoil raised the likelihood that the Federal Reserve would need to slow down or pause its interest rate hikes.
Treasury yields plunged, hammering funds that expected them to rise before the bank turmoil changed the market’s outlook.
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