net_left Phương Thức Thanh Toán

Goldman Sachs dealmakers see M&A recovery in second half of 2023

04 Tháng Giêng 2023
let atwWrapper,atwContainerWidth,atwSliderBox,atwTotalWidth; function initATWSlider() { atwWrapper = $('.relatedInstruments'); atwSliderBox = atwWrapper.find('.slider'); atwContainerWidth = atwWrapper.width(); atwTotalWidth = atwSliderBox.width(); if(window.domainId === '2' || window.domainId === '3'){ atwWrapper.find('.sliderRight').addClass('js-slider-prev'); atwWrapper.find('.sliderLeft').addClass('js-slider-next'); } else { atwWrapper.find('.sliderRight').addClass('js-slider-next'); atwWrapper.find('.sliderLeft').addClass('js-slider-prev'); } if(atwSliderBox.find('.instrumentBox').length > 6){ atwWrapper.find('.js-slider-next').fadeIn(600); } } function atwMoveRight() { atwWrapper.find('.js-slider-prev').fadeIn(150); $(".slider > :visible:first").hide(150) $(".slider > :visible:last").next().show(150); if(!$(".slider > :visible:last").next().find('.name')()){ atwWrapper.find('.js-slider-next').fadeOut(150); return; } } function atwMoveLeft() { atwWrapper.find('.js-slider-next').fadeIn(150); $(".slider > :visible:last").hide(150); $(".slider > :visible:first").prev().show(150); if(!$(".slider > :visible:first").prev().find('.name')()){ atwWrapper.find('.js-slider-prev').fadeOut(150); return; } } initATWSlider(); //update star icon on adding/removing instrument to/from specific watchlist atwWrapper.on('click', 'label.addRow', function() { let parent = $(this).parent(); let checkedPortfolio = false; parent.find('input[type=checkbox]').each(function () { if($(this).is(':checked')){ checkedPortfolio = true; } }); let closestStar = $(this).closest('.addToPortWrapper').find('.star'); if(checkedPortfolio){ closestStar.addClass('added'); }else{ closestStar.removeClass('added'); } }); //update star icon on creating new watchlist atwWrapper.find('.js-create-watchlist-portfolio').find('a.js-create').on('click',function () { let parent = $(this).parent(); let watchlistName = parent.find('input[type=text]').val(); if(!watchlistName){ return; } let star = $(this).closest('.addToPortWrapper').find('.star'); star.addClass('added'); }); //update star icon on adding new position atwWrapper.find('.js-create-holdings-portfolio').find('.js-submit').on('click',function () { let addPositionForm = $(this).closest('.addToPortfolioPop').find('.holdingsContent'); let amount = addPositionForm.find('.js-amount').val(); if(amount < 1){ return; } let star = $(this).closest('.addToPortWrapper').find('.star'); star.addClass('added'); }); atwWrapper.find('.instrumentBox').find('.shortInfo').on('click',function () { if(!window.ga){ return; } let pairId = $(this).parent().find('.js-add-to-portfolio').attr('data-pair-id'); let pairType = window.atwPairTypes[pairId]; window.ga('allSitesTracker.send', 'event', 'content', 'symbol link clicked', '', { "dimension147":"symbol_link_clicked", "dimension163":"click", "dimension148":"symbol", "dimension162":"content add to watchlist", "dimension161":"article page", "dimension142":"article", "dimension75":pairType, "dimension138":pairId, "dimension118":"2972627" }); window.open($(this).attr('data-href')); }); window.atwPairTypes = {"266":"Equities","267":"Equities"};

By Saeed Azhar, Lananh Nguyen and Anirban Sen

NEW YORK (Reuters) - Goldman Sachs Group Inc (NYSE:GS)'s top dealmakers are bullish on a recovery in global mergers & acquisitions (M&A) in the second half of 2023 despite a slowdown in economic growth and a weak credit market.

As economic forecasts turn gloomier, executives at the Wall Street powerhouse - including Dan Dees and Jim Esposito, who jointly run its global banking and markets division - said they are primed for a recovery when financing markets ease up, potentially as early as the second half of 2023.

The projections come after global M&A values slumped 36% to $3.78 trillion in 2022, from a record $5.91 trillion in 2021, according to Dealogic data. Banks, including Goldman, have cut jobs as activity slumps.

In a series of interviews with Reuters in recent weeks, top Goldman dealmakers who have been at the firm for more than two decades apiece said there are plenty of reasons for global deal activity to pick up.

Big investors are sitting on piles of cash preparing to fund transactions, and large companies earning solid profits are looking to diversify their businesses - but they are waiting for economic uncertainty to fade, the bankers said.

"I remain quite bullish, maybe not on the first quarter, but certainly as we go forward," said Stephan Feldgoise, global co-head of M&A. Still, there are "clear headwinds in the first part" of 2023, he said.

Mark Sorrell, Feldgoise's counterpart in London, sees corporate clients jumping on deals when financing is available because their underlying motives are still intact, such as gaining new customers, new products or geographic expansion.

Companies are staying on the sidelines because their creditors have pulled back from making riskier loans for buyouts as interest rates rise, but that could change rapidly, he said.

"When the financing market comes back, we don't know when it will happen, but it will happen because of the amount of liquidity in the system, we think transaction volumes will and activity will recover," Sorrell said.

The resurgence may be "quicker than people expect," he said. TOP DEALMAKERS

If markets recover, Goldman's investment bankers stand to gain. The company has been the top global M&A adviser by revenue for the past 20 years, followed by JPMorgan Chase & Co (NYSE:JPM), according to Dealogic data.

Despite that position, Goldman is not immune to a slowdown. Its investment-banking division accounted for just 13% of the company's revenue in the third quarter, shrinking from 27% a year earlier and 23% in the third quarter of 2018, when CEO David Solomon took the helm.

The bank is preparing to cut thousands of employees in the new year, intensifying an earlier round of about 500 layoffs in September, Reuters reported earlier. Bonuses will also be slashed.

Goldman's leaders said staffing levels were being adjusted to fit the economic environment, and in some cases, employees were being reassigned to more active areas.

The bank sees opportunities in advising clients who are being targeted by activist investors, or fintech companies open to suitors after their valuations plunged, said Russ Hutchinson, the bank's chief operating officer of global M&A.

The fortunes of Wall Street's dealmakers hinge to a large extent on whether the leveraged loan market will reawaken after a lull last year. Some observers have drawn parallels to the global financial crisis, when plunging corporate valuations and a recession triggered by a collapse in the housing market froze the leveraged buyout (LBO) market.

The current stress in the credit market is vastly different from 2008, said Esposito, Goldman's co-head of global banking and markets. During the crisis, the banking industry had more than $700 billion of stalled LBO exposure at its peak, which took 12 to 18 months to clear.

Today, "there's probably between $100 and $125 billion ...  It's an almost inconsequential number compared to 2008, and equally importantly, the credit markets are so much deeper."

The market stress means lenders are less willing to finance deals because they are saddled with tens of billions of dollars of so-called "hung debt" that they are unable to sell on to investors.

But for all the market turbulence, Goldman veterans remain confident.

"When you go through periods of volatility, you know it creates opportunity," Dees said.

Để lại bình luận
Hot Auto Trade Bot Phương Thức Thanh Toán
BROKERS ĐƯỢC CẤP PHÉP
net_home_top Ai VIF
23-03-2023 02:26:58 (UTC+7)

EUR/USD

1.0886

+0.0119 (+1.11%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

EUR/USD

1.0886

+0.0119 (+1.11%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

GBP/USD

1.2306

+0.0092 (+0.75%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

USD/JPY

131.32

-1.17 (-0.89%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (8)

AUD/USD

0.6715

+0.0047 (+0.70%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (6)

Sell (1)

USD/CAD

1.3683

-0.0030 (-0.22%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (7)

EUR/JPY

142.95

+0.28 (+0.20%)

Summary

Neutral

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (6)

Sell (3)

EUR/CHF

0.9978

+0.0049 (+0.49%)

Summary

Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (4)

Sell (2)

Gold Futures

1,970.30

+29.20 (+1.50%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (7)

Sell (1)

Silver Futures

23.130

+0.705 (+3.14%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (9)

Sell (0)

Copper Futures

4.0660

+0.0720 (+1.80%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (5)

Sell (2)

Crude Oil WTI Futures

70.52

+0.85 (+1.22%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (2)

Sell (5)

Brent Oil Futures

76.37

+1.05 (+1.39%)

Summary

Neutral

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (3)

Sell (3)

Natural Gas Futures

2.186

-0.162 (-6.90%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (8)

US Coffee C Futures

177.53

-2.77 (-1.54%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (7)

Euro Stoxx 50

4,195.70

+14.10 (+0.34%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (1)

Sell (6)

S&P 500

3,998.69

-4.18 (-0.10%)

Summary

↑ Buy

Moving Avg:

Buy (9)

Sell (3)

Indicators:

Buy (9)

Sell (0)

DAX

15,216.19

+20.85 (+0.14%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (8)

FTSE 100

7,566.84

+30.62 (+0.41%)

Summary

Neutral

Moving Avg:

Buy (5)

Sell (7)

Indicators:

Buy (5)

Sell (2)

Hang Seng

19,591.43

+332.67 (+1.73%)

Summary

Sell

Moving Avg:

Buy (5)

Sell (7)

Indicators:

Buy (1)

Sell (4)

US Small Cap 2000

1,769.70

-8.04 (-0.45%)

Summary

Buy

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (9)

Sell (0)

IBEX 35

9,009.30

-40.10 (-0.44%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (2)

Sell (6)

BASF SE NA O.N.

46.560

+0.390 (+0.84%)

Summary

↑ Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (8)

Sell (1)

Bayer AG NA

56.63

-0.55 (-0.96%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (7)

Allianz SE VNA O.N.

208.10

-0.20 (-0.10%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (5)

Sell (1)

Adidas AG

141.00

-1.60 (-1.12%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (8)

Sell (0)

Deutsche Lufthansa AG

9.878

-0.051 (-0.51%)

Summary

↑ Buy

Moving Avg:

Buy (9)

Sell (3)

Indicators:

Buy (8)

Sell (0)

Siemens AG Class N

144.94

+2.16 (+1.51%)

Summary

Buy

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (11)

Sell (0)

Deutsche Bank AG

9.643

-0.206 (-2.09%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (4)

Sell (5)

    EUR/USD 1.0886 ↑ Buy  
    GBP/USD 1.2306 ↑ Buy  
    USD/JPY 131.32 ↑ Sell  
    AUD/USD 0.6715 ↑ Buy  
    USD/CAD 1.3683 ↑ Sell  
    EUR/JPY 142.95 Neutral  
    EUR/CHF 0.9978 Buy  
    Gold 1,970.30 ↑ Buy  
    Silver 23.130 ↑ Buy  
    Copper 4.0660 Neutral  
    Crude Oil WTI 70.52 ↑ Sell  
    Brent Oil 76.37 Neutral  
    Natural Gas 2.186 ↑ Sell  
    US Coffee C 177.53 ↑ Sell  
    Euro Stoxx 50 4,195.70 ↑ Sell  
    S&P 500 3,998.69 ↑ Buy  
    DAX 15,216.19 ↑ Sell  
    FTSE 100 7,566.84 Neutral  
    Hang Seng 19,591.43 Sell  
    Small Cap 2000 1,769.70 Buy  
    IBEX 35 9,009.30 ↑ Sell  
    BASF 46.560 ↑ Buy  
    Bayer 56.63 ↑ Sell  
    Allianz 208.10 Neutral  
    Adidas 141.00 ↑ Buy  
    Lufthansa 9.878 ↑ Buy  
    Siemens AG 144.94 Buy  
    Deutsche Bank AG 9.643 ↑ Sell  
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank6,650/ 6,700
(0/ 0) # 1,156
SJC HCM6,645/ 6,715
(0/ 0) # 1,171
SJC Hanoi6,645/ 6,717
(0/ 0) # 1,173
SJC Danang6,645/ 6,717
(0/ 0) # 1,173
SJC Nhatrang6,645/ 6,717
(0/ 0) # 1,173
SJC Cantho6,645/ 6,717
(0/ 0) # 1,173
Cập nhật 23-03-2023 02:27:00
Xem lịch sử giá vàng SJC: nhấn đây!
ↀ Giá vàng thế giới
$1,963.46 +20.54 1.06%
Live 24 hour Gold Chart
ʘ Giá bán lẻ xăng dầu
Sản phẩm Vùng 1 Vùng 2
RON 95-V23.96024.430
RON 95-III23.03023.490
E5 RON 92-II22.02022.460
DO 0.05S19.30019.680
DO 0,001S-V20.56020.970
Dầu hỏa 2-K19.46019.840
ↂ Giá dầu thô thế giới
WTI $70.63 -1.14 -1.63%
Brent $76.18 -1.21 -1.61%
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD23.320,0023.690,00
EUR24.665,4826.068,68
GBP28.005,2129.224,11
JPY172,79183,08
KRW15,5518,96
Cập nhật lúc 18:50:07 22/03/2023
Xem bảng tỷ giá hối đoái
Phương Thức Thanh Toán