It has been a busy stretch in markets - the presidential debate last night, CPI this morning - as 10yr Yields and Oil/Crude continue to make new year lows, even as the hotter than expected CPI has made a 25bps rate cut next week all but certain (odds of a 50bps rate cut collapse).
Against that backdrop, it was a busy day out at the GS Communacopia & Technology Conference – soundbites and notes below, courtesy of Goldman TMT specialist Peter Callahan, whose 1-liner recaps was a reminder that "while the AI theme has perhaps been ‘deflated’ a bit in the public markets (risk sentiment, monetization gap, etc) … it is hard to think it is “defeated” (as AR/VR or Blockchain or 5G may have been) when you listen to the excitement and conviction from leading-edge companies like MSFT, AMZN AWS, ARM, Google Cloud, Arista (both re: today’s progress and what is on the come / possible down the road)."
